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On the technical charts, the 200-day moving average of the stock stood at Rs 1459.62.

“Today’s markets rally and the ferocious rally that we have had in the last two, three days would still happen in a bad environment because it is about positioning. But I would still bet that this boom cycle in the economy and stock markets perhaps have already ended and we are staring at sharply slower growth not just in the US and world but also in India over the next six to 12 months, with the risk of double dip and a significant risk that asset markets continue to underperform for the next six to 12 months. ”

A total of 16,563 shares changed hands on the counter till 01:39PM (IST).

Even though the correction in Nifty by 15 per cent from the peak had cooled valuations a bit, the recent recovery has again pushed the valuations up. Therefore, investors should prefer value to growth in these times of uncertainty. Preference for value over growth is a global trend now.

When the country’s central bank boasts of $632 billion worth of FX reserves, speculating against the currency is fraught with risk.

Consumer stocks in India enjoy a significant premium given the growth runway and this should likely continue for Nykaa although the question remains on the fair valuation multiple, the brokerage said.

The stock quoted a 52-week high of Rs 141.75 and a 52-week low of Rs 86.7.

Data showed Nifty Auto has consistently lagged the benchmark Nifty50 over the last four calendar years, yielding negative returns in two, in the face of multiple headwinds. On a year-to-date basis, the index is down 7 per cent as against a near 3 per cent fall in the NSE barometer.

“In terms of investment themes, the first theme to emerge has to do with India’s demographics which are around consumers. Second is essentially around digitalisation. The third one is decarbonisation which revolves around how to move towards carbon neutral and create alternative sources of fuels and that kind of stuff, says Envision Cap MD & CEO”

"The key question for gold in times of geopolitical crises is always whether economic and financial market risks are on the rise or whether they are receding. For the moment, the gold market is reflecting the latter even though it is constantly assessing the situation, which remains highly in flux and highly uncertain," said Carsten Menke, Head Next Generation Research, Julius Baer.