Sensex off highs, Nifty tests 8850 levels

The S&P BSE Sensex pared gains after rallying nearly 150 points, led by losses in ICICI Bank, ITC, RIL and State Bank of India. Tracking the momentum, the 50-share Nifty index also slipped below its crucial psychological level of 8900, and was trading near its crucial support level of 8850.
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