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“Auto is one of the sectors we are positive on. The other one is banking. Largecap banks have corrected quite a bit and the ownership also basically has come down dramatically. We also like the defensive sectors – pharma and FMCG. We have also started liking largecap IT because there also, the correction has been quite good and demand does not seem to be going away.”

But strategists have been revising down their year-end forecasts after the recent sharp sell-off, including Credit Suisse Securities, which cut its year-end S&P 500 target to 4,900 from 5,200 earlier this month.

At 9.27 am, the BSE Sensex was trading 268.14 points or 0.50 per cent higher at 54,320.75. Nifty50 was trading at 16,212.25, up 87.10 points or 0.54 per cent. Midcap and smallcap indices fell up to 0.10 per cent. Most Asian markets were trading with marginal gains.

Jyothy Labs Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 5535.67 Crore) operating in FMCG sector.

As of 31-Mar-2022, promoters held 51.45 per cent stake in the company, while FIIs held 19.49 per cent and domestic institutional investors had 9.06 per cent.

Karur Vysya Bank Ltd., incorporated in the year 1916, is a banking company (having a market cap of Rs 3604.05 Crore).

Stocks that were in focus included names like Divi’s Laboratories which fell more than 6 per cent, Zomato which bounced back and closed with gains of nearly 14 per cent, and Rupa Company which declined more than 16 per cent.

“Right now we have a preference for banks. In IT, we have Infosys and Wipro in the long-term portfolios where we have a 3-5-year horizon. While we have increasing exposure in banks, we have been reducing it in IT for quite some time. We have moved out of midcap IT almost entirely except for one. Intellect is still there and among largecaps, Infosys and Wipro are there.”

KSB Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 5131.20 Crore) operating in Irrigation & Allied Services sector.

At least four stocks will go ex-dividend today. It includes TCS, which had announced a final dividend of Rs 22 per share recently. SBI, which announced a final dividend of Rs 7.10 per share, will also go ex-dividend today. Two others -- GRM Overseas and Qgo Finance -- which announced dividend (interim) per share of Re 0.25 and Re 0.10, respectively, will go ex-dividend today.