This is a normal market cycle wherein we seem to be near the bottom of the cycle considering the valuations at which some good mid and small cap cos. are trading at present, almost at historical low valuations....... If the pace of this fall continues like this then we will have these stocks trading at absurd valuations which is highly unlikely.....The fall is accentuated by domestic goverment's mismanagement of economy where it has failed to let the country exploit its true potential of standing out amidst global uncertainities..... The positive is that expectations are so low that if politics of country permit some reforms like FDI in m.retail and all we can have new sectors emerge as leaders of next bull run.