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The BSEMIDCAP gained 1.11 per cent but BSESMALLCAP lost 0.05 per cent.From the intraday lows made on Wednesday the recovery was even sharper than the net weekly gains. BSESENSEX gained 841 points and NIFTY gained 254 points. Once again short sellers were caught off guard and had to cover their shorts quite rapidly.Markets are back on a roll and have been trading in a broad band. We are virtually at the top of the band now and any sustained upward move would lead to a fresh breakout. There would be corrections on and off which would keep volatility and ensure that traders have a decent time at the markets.The Dow Jones gained 120.32 points or 0.43 per cent to close at 28,135.38 points. The Indian Rupee gained 38 paisa or 0.53 per cent to close at Rs 70.81 to the US Dollar.China and the US have come to a limited agreement on the ongoing trade war and have agreed to halt further increase of duties. While China has agreed to import more farm produce from the US, America in its turn has postponed the proposed increase in tariffs on goods worth $160 billion.Whether this truce will hold and lead to a broader settlement or fizzle out, is impossible to predict.Shares of Ujjivan Small Finance Bank Limited listed on Thursday the 12th of December and gained over 51 per cent closing at Rs 55.90 against the issue price of Rs 37. They lost some ground on Friday and closed at Rs 52.05, ending the week with gains of Rs 15.05 or 40.68 per cent.The simultaneous offer for sale and fresh issue of Rs 250 crore each from Prince Pipes and Fittings Limited will open December 18 and close on December 20. The company has good prospects based on the housing for all, Swachh Bharat and other government programs involving housing, agriculture and health. The company is across vertical and processes various kinds of polymers at its multi locations across India.The company had reported sales of Rs 1,578.99 crore with a profit after of tax of Rs 83.24 crore for the year ended March 2019. For the first quarter ended June 2019, the revenue was Rs 380.19 crore and the profit for the period Rs 26.90 crore. The EPS for the full year is Rs 9.26, while for the quarter it is Rs 2.96. The price band is Rs 177-178. Based on historical earnings for the year ended March 2019, the shares are being offered at a PE multiple of 19.11-19.22.Shares of Saudi Aramco have begun trading and have crossed the 2 trillion mark. This is the first company to do so. Its market cap is worth more than Berkshire Hathaway, Facebook and Amazon put together. This would be a stock closely followed going forward as the country is looking at diversifying its oil portfolio to other streams and making it oil price shock proof going forward.With Christmas approaching and the FPI's going away for their annual holidays, expect the local players to get active and indulge in price movement in the so-called broader market involving small cap and even smaller stocks. In eight trading days, you would have December futures expiring and in three days after that the year. There would be some NAV propping being done to see that the mutual funds performance looks better.Sterling and Wilson Solar, the Shapoorji Pallonji Mistry company which is in controversy for promoters not repaying its debts to the listed company continues to be under pressure. While the share does manage upper circuits on some days, the fact remains that investors have not liked the delay in payment. The share trades at Rs 300 against an issue price of Rs 780. The group has sold shares of TCS a second time in the last couple of weeks to pare its debt.Yes Bank fund raising continues to be a mystery. The Canadian PIO Erwin Singh Braich who had made a bid for $1.2 billion will not be accepted. Certain other bidders have also backed out. It appears the fund raising is currently under limbo and the share under huge speculation. The price movement in the market on the share is not good for the company and smacks of rampant misuse of sensitive information being used for trading.Markets in the week ahead would continue to remain volatile and trade with a positive bias.(The views expressed are personal.)( With inputs from IANS )

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on one trading day and gained on the remaining four trading sessions. BSESENSEX gained 564.56 points or 1.40 per cent to close at 41,009.71 points, while the NIFTY gained 165.20 points or 1.39 per cent to close at 12,086.70 points. The broader market ...