global offices were closed for the New year, he said."Moreover positive data coming out the US markets have hinted at a better-than-expected recovery, which will throw new challenges to Indian equity markets; although it is good for export-oriented sectors, which will see better performance
with renewed exports.
"But it will also prompt Fed to speed up its tapering process which will eventually put adverse pressure in Indian equity markets in an uncertain political environment with high inflation and low growth," he added.
Twenty-four scrips out of the Sensex pack ended in red while only six finished in green. Major losers were * Mahindra & Mahindra (7.03 pct), * Tata Power Company/b> (6.54 pct) pct, Larsen & Toubro Ltd (6.40 pct), * Oil & Natural Gas Corpn (5.95 pct), Bharat Heavy Electricals Ltd (BHEL) (4.30 pct), ICICI Bank (3.56 pct), * Cipla (3.39 pct), State Bank of India (3.17 pct), NTPC (3.94 pct), Hindalco Industries (2.82 pct), Tata Steel (2.54 pct), Axis Bank
(2.37 pct), ITC Ltd (2.21 pct), Tata Motors (2.11 pct), Bajaj Auto (1.95 pct), * Coal India (1.93 pct), Reliance Industries (1.54 pct) and Sesa Sterlite Ltd (1.44 pct) while * Tata Consultancy Services rose by 2.70 pct andMaruti Suzuki India (1.48 pct).
Among the S&P BSE sectoral indices, CG fell by 4.65 pct followed by Power 3.32 pct, PSU 2.79 pct, Oil & Gas 2.68 pct, Bankex 2.28 pct, Auto 2.26 pct and Metal 2.01 pct. However, IT moved up by 0.93 pct and Teck by 0.86 pct.The total turnover at BSE and NSE rose to Rs 10,486.82 crore and Rs 46,164.73 crore, respectively, during the week as against the last weekend's level of Rs 7,868.99 crore and Rs