According to a recent report by Motilal Oswal, Nifty was trading at a 12-month forward PE of 18.7x – a 4% discount to its LPA. P/B, at 2.9x, is at an 11% premium to its historical average. The 12-month trailing PE for Nifty, at 22x, is at a 4% premium to its LPA of 21.1x. At 3.2x, Nifty’s 12-month trailing PB is above its historical average of 2.9x – at a 14% premium.Experts say that not all those sectors trading at a discount are safe bets. Those trading at a premium could still remain attractive. Here are a few sectors that are currently trading at a significant premium to their historical long-period averages.