Selling has been overdone, market is nearing a bottom

Investors should take a heart from the fact that there are countries, such as China and South Korea, where normalcy is returning.

Stocks once again crumbled on Monday and there was complete chaos. The trading has been halted twice over the last fortnight - earlier with the Nifty hitting a lower circuit and today the Sensex. One needs to understand that market volatility cannot be contained by curbing or banning short sales. Shorts are a must in the system. That said, the way markets have corrected - steeply and sharply, the recovery will also be in the same fashion. It is not a slow correction. There has been panic selling as people think everything will be shut and it is going to