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The Nifty Auto index was trading 0.66 per cent up at 10816.7.

The stock quoted a 52-week high of Rs 2379.0 and a 52-week low of Rs 1502.9.

"Overall, the Indian market has entered in an upcycle of earnings with the expectation of a 20% Nifty EPS CAGR over FY21-24 against the single digit 7% growth it reported over FY09-21. We believe the market will likely follow the double-digit earnings growth in upcoming years. We maintain our Dec’22 Nifty50 target of 20200, valuing it at 22x FY24E earnings."

FIIs have reduced stake in 9 out of 10 companies in the Nifty IT index, as of data collated on 18 April from Trendlyne. Infosys, TCS, HCL Technologies and Wipro are among the prominent names which feature in the list.

“For longer term periods, buying at the right price has always worked out and that is an investment style. At all periods of time, one will get businesses that are in that zone. We are not really going to shift our style to buy high PE companies. In 2007, 2008, 2009, 2010, the high PEs were in infrastructure, real estate, commodities. Today those high PEs are in FMCG and some of the digital companies and privare sector banks. The rotation will definitely happen.”

“I think it is a good time for BFSI segment. We did see a glimpse of that when the life insurance, ICICI Prudential came out with their results, it is part of BFSI and we have been positive on insurance. We will see the gold loan companies, insurance, some of the AMCs and some of the banks coming up with much better than expected performance.”

Page Industries Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 50967.57 Crore) operating in Apparels sector.

On the other hand, Schaeffler India will go ex-dividend today. The company had announced a final dividend of Rs 16 per share. The record date for the same is April 21. IDFC will also go ex-dividend today. This NBFC had announced an interim dividend of Re 1.

Regression analysis suggests that surplus liquidity has a sobering impact while greater uncertainty hardens the forward premia, more so in the short term, according to a study titled "What Drives the Forward Premia – An Analytical Perspective" published in its latest monthly bulletin.

State refiners have bought more than 15 million barrels of Russian crude from traders as well as Russian firms since the outbreak of war, paying in dollars using regular banking channels, they said. The Ukraine invasion began February 24.