BSE Sensex, Nifty Trade Flat; Banking Stocks in Focus

BSE Sensex and Nifty were flat today with gains in the banking stocks supporting the market. Banking stocks were in focus after Kotak Mahindra Bank announced a deal to acquire ING Vysya Bank in an all-stock deal.

Kotak Mahindra Bank surged as much as 9 per cent while ING Vysya Bank gained 2 per cent.

Market analyst Ambareesh Baliga said that markets could struggle to move higher further from the current levels. A Nifty close below 8,250 would trigger strong profit-taking, he added.