The Hindu Business Line : Markets begin new year on low note

Samvat 2063 commenced on Monday on a weak note with the BSE Sensex and NSE S&P CNX Nifty toting up losses. Thin volumes and profit booking, ahead of festive holidays, impacted share prices. BSE Sensex closed 113.54 points or 0.89 per cent down at 12,623.28 points. NSE Nifty index closed lower 0.71 per cent at 3657.30 points.

On Moorat trading day, the Sensex ended higher by 27 points to close at 12,737 points.

Weak volumes

"Holidays have been the reason for weak volumes. Markets are consolidating from their record high and this correction is expected to continue for a while. Also, the roll-over trading for Wednesday was carried today," said Mr Kunj Bansal, CIO, Religare Securities.

Stocks worth Rs 2,430.89 crore were traded on the BSE.

All indices ended in the red with the BSE consumer durables index being the biggest loser, down 1.88 per cent at 3,356.69 points. "Even FII interest has been very weak. Only sugar stocks gained at the end of trading on reports that the Government may lift the ban on sugar exports," said Mr Shailesh Shah, broker, Rapid Capital Services. FIIs were net buyers for Rs 58.04 crore as per provisional figures on the NSE.

The markets will remain closed on Tuesday and Wednesday.

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