Sensex falls 499 points after hitting record high; Nifty holds 8800

The S&P BSE Sensex plunged as much as 611 points in trade on Friday, after hitting its record high of 29844.16. The fall in the index was led by losses in ICICI Bank, HDFC, SBI, HDFC Bank and TCS. Tracking the momentum, the 50-share Nifty index also slipped towards its crucial psychological support level of 8800, weighed down by losses in banks, consumer durable, FMCG and metal stocks.

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