"Sure, a five percent pullback below 4,000 is quite possible -- and more likely probable, in that the narrative of the past week was to sell on the earnings news, regardless of the blowout numbers crossing the tape."
This would not only help curb tobacco use in the country but would also contribute to generating more revenues that can be used for promoting public health.
"With a softening in the Chinese credit impulse and a resurgence of virus cases in India and Japan, topside ambitions continue to run into walls of profit-taking," he added.