The Indian stock market has taken more beatings over the last two days, sending IFN down along with it. The Indian index closed below 10000 againÂ today andÂ allÂ gainsÂ sinceÂ JanÂ 27 have been erased in just over a week.
Despite today’s 200 point drop, IFN has not similarly dropped possibly due to strangth in US markets and the fact that it is already at early January levels. Morningstar still shows a premium of over 30% for IFN! Is it time to get in? I’d wait for several consecutive days upwards before buying.Â HoweverÂ IÂ doÂ feelÂ thatÂ theÂ currentÂ levelsÂ forÂ theÂ IndianÂ indicesÂ areÂ reasonable.