Sensex continues retreat from record; Kotak surges

Reuters Market Eye - The BSE Sensex and Nifty were trading lower on Thursday as markets continued to consolidate after hitting record highs on Wednesday.

The BSE Sensex was down 0.2 percent while the Nifty fell 1.16 percent as of 10 a.m.

Blue-chips led the falls on profit-taking.

Tata Motors was down 1.3 pct, HDFC Bank fell 1.5 pct.

Kotak Mahindra Bank surged 5.6 percent, ING Vysya Bank rose 6.2 pct on speculation it will be acquired by Kotak.

Kotak, however, said no decision had been made in relation to any merger.

(Reporting by Abhishek Vishnoi)