EQUITY benchmark Sensex plummeted over 700 points to sink below the 74,000 level and Nifty retreated from a record high on Friday as investors pared exposure to telecom, capital goods and tech stocks. Heavy selling pressure in Reliance Industries, L&T and HDFC Bank counters also pulled indices down, traders said. The 30-share BSE Sensex dropped 732.96 points or 0.98 per cent to settle at 73,878.15 after soaring 484.07 points earlier in the day. From its intra-day high of 75,095.18, the benchmark tanked 1,627.45 points to the day’s low of 73,467.73. The NSE Nifty also declined 172.35 points or 0.76 per cent to 22,475.85. The benchmark hit a record 22,794.70 in early trade, up 146.5 points or 0.64 per cent. On the weekly front, the BSE benchmark climbed 147.99 points and Nifty advanced 55.9 points.