Sensex drops over 150 ; OH NO !!!

Indian stock markets saw a sharp selloff in the last hour of trade on Friday. The Sensex dropped over 150 points while the broader Nifty slipped below the key support of 5,600 in a broad based selloff. At 03.10 p.m. the Sensex traded 157 points lower at 18,314 while the broader Nifty dropped 58 points or 1 per cent to 5,573. Indian markets have fallen for five straight days tracking global weakness and poor domestic macro data. The Winter Session of Parliament, starting next week, may throw up some cues for the markets now.