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As I write this the BSE Sensex just reached a new all-time high after breaking past the 15000 point mark.  However, the two India CEF’s, IIF and IFN are both trading below their Net Asset Value (NAV). 

Morgan Stanley India Investment Fund (IIF) is trading at a 11.77% discount
India Fund (IFN) trading at [...]

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I wrote in my Weekly Indian Stock Report, published Sunday, that a short-term downtrend was imminent for the Sensex. What I didn’t know was the big drop will happen Monday. Sensex, which consists of 30 stocks, actually dropped 537.76 points before recovering a bit to close down only 400 points.
Banks led the decline [...]