According to Khandwala Securities Market Preview report, after nearly 16% rise over the last four weeks in the benchmark equity indices, the market is expected to witness profit booking.

Khandwala Securities Market Preview report:

• After nearly 16% rise over the last four weeks in the benchmark equity indices, the market is expected to witness profit booking.
• The indices are expected to hit higher today retracing almost half of the recent fall.
• The rally has brought the valuations back to fair levels considering the low risk appetite in the wake of shooting inflation.
• Asian markets are showing mixed trends today with Japan, South Korea and Thailand markets closed. Strait is up by 1% Shanghai up by 1%, while Heng Seng and Taiwan down by 0.24% and 1.5% respectively.
• The market extended gains further with the BSE Sensex surging 313 points and Nifty up by 62 points. The markets remained firm on Friday despite the higher inflation numbers.

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