Sensex slips over 250 points, Nifty below 11,550

Domestic stock markets slipped on Thursday following losses in global markets after the US Federal Reserve’s policy-making committee indicated the overnight rate could stay close to zero for years to reach its 2 percent inflation target.

The S&P BSE Sensex dipped 250 points to 38,988 levels and the Nifty50 index fell below the 11,550-mark.

The trend among Nifty sectoral indices was largely negative, with Nifty Metal index, down 1.8 per cent, leading the list of losers.

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In the broader market, the S&P BSE MidCap and SmallCap indexes were trading flat.

(With inputs from agencies)