By Aby Jose Koilparambil
Jan 28 (Reuters) - New Zealand shares seesawed between gains and losses in thin trading on Monday with a holiday in the commercial capital Auckland and in Australia keeping most investors sidelined.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was little changed, up just 0.46 point at 9,111.11 by 2300 GMT. The benchmark had eked out marginal gains in the previous two sessions, with the index adding a modest 0.1 percent last week.
Among the 42 benchmark constituents that were trading early on, the advance-decline ratio stood at a neck-to-neck 1:1 with just about 65,000 shares trading in the first two hours against the 30-day average volume of more than 22 million.
"It is a local anniversary day in the country's biggest city Auckland and the big players are on holiday. Also, we have got the Australia Day observed today and the Australians are very large players in our market. The volumes are very light," said Jeremy Sullivan, investment advisor at Christchurch-based advisor firm Hamilton Hindin Greene.
Outdoor retailer Kathmandu Holdings Ltd KMD.NZ and telecoms firm Spark New Zealand Ltd SPK.NZ led the losses, shedding 1.7 percent and 1.5 percent, respectively.
On the front foot, oil marketing company New Zealand Refining Co Ltd NZR.NZ , dairy firm a2Milk Co Ltd ATM.NZ and aged care operator Ryman Healthcare Ltd RYM.NZ topped the index, up between 0.8 percent and 1 percent.
Sky Network Television Ltd SKT.NZ and fast food chain Restaurant Brands New Zealand Ltd RBD.NZ rose as much as 0.5 percent each in a boost to the consumer segment.