The equity markets signed off the last session of Samvat 2071 — the Vikram era’s calendar year followed by most of the northern India — on a dismal note as growing concerns about the prog-ress of economic reforms and fear about an interest rate hike by the US Fed-eral Reserve led to subdued sentiments on the domestic bourses. Weak-ness in global stocks also triggered profit booking on Monday.Extending its fall for the fifth consecutive day, the Sen*** slumped 378.14 points or 1.45 per China Fiberglass insulated ladder cent to end the trading session at 25,743.26. The Nifty closed at 7783.35, losing 131.85 points or 1.67 per cent. “The markets remained subdued in the current Samvat as a host of global as well as domestic factors influenced investors sentiment. In Sanskrit, Samvat means a year.There was a global risk aversion caused due to concerns regarding a China-led global slowdown while lower than expected earnings growth reported by India Inc and slow pace of reforms triggered profit booking on the domestic bourses,” observed Ambareesh Baliga, senior research analyst.However, Mr Baliga believes that Samvat 2072 would turn out to be a good year for investors as the ruling BJP led NDA, which received a major set back in the just concluded Bihar state election is expected to take some serious and bold decisions in the coming days. “So, finally we could see some actions on the ground level. If that happens, I believe, this is the best opportunity to invest in the Indian market with a long term view,” he added. According to the provisional data released by the stock exchanges, foreign portfolio investors (FPI) sold shares worth Rs 661.95 crore. The broader market also rem-ained extremely weak with 1,626 stocks traded on BSE ending the day deep in the red as compared to 996 stocks that advanced. “BJP-led NDA’s loss in Bihar state elections coupled with negative global news flows, dealt a strong blow to domestic equities on Tuesday. The outlook for commodity prices, which are already at multi-year lows, remains bleak amid a strengthening dollar after analysts started pricing in a higher probability of a Fed rate hike in December, 2015,” said Shreyash Devalkar, fund manager, equities, BNP Paribas Mutual Fund.He added that the global markets are awash with concerns over an imminent interest rate hike in the US, which could lead to volatility in emerging market equities.“The markets are still keenly watching the developments in the Chinese economy. In the near term, we believe the markets would continue to remain weak and Nifty could move in a range between 8,100 and 8,500 in the medium term,” said Achin Goel, head, wealth management and financial planning, Bonanza Portfolio.