HFT Scan: Aditya Birla Fashion, TVS Electronics in focus

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High-frequency trading was active in Aditya Birla Fashion and Retail, Sadbhav Engineering and TVS Electronics on April 2, with all three stocks ending the day higher.

High-frequency trading firms (HTFs) — or algo firms on steroids — use complex algorithms and powerful computers to execute trades at lightning speeds. These firms typically try to capture the spread between spot and futures prices but recently, they have been active in small, illiquid stocks as well.

The volumes generated by them, more often than not, attracts retail investors to these stocks.

Stocks where HFTs were active on April 2:

Aditya Birla Fashion and Retail

Active names and traded stake: Graviton Research Capital (0.49 percent)

Stock movement and volumes: Gained 11.58 percent to Rs 236.15. Trading volumes at 9 crore shares versus one-month average of 48 lakh

Technicals: Stock is above 50 and 200-day moving averages (DMAs)

Fundamental trigger, if any: The board on April 1 authorised the management to evaluate vertical demerger of Madura Fashion and Lifestyle business from ABFRL into a separate listed company

Sadbhav Engineering

Active names and traded stake: Crony Vyapar (0.68 percent), Parth Intfin Brokers (0.84 percent)

Stock movement and volumes: Gained 9.09 percent to Rs 34.2. Trading volumes at 1 crore shares against one-month average of 29 lakh shares

Technicals: Stock is above 50 and 200-DMAs

Fundamental trigger, if any: None

TVS Electronics

Active names and traded stake: Graviton Research (0.64 percent)

Stock movement and volumes: Gained 9.03 percent to Rs 312.7. Trading volumes at 10 lakh shares versus one-week average of 76,000

Technicals: Stock is above 50 and 200-DMAs

Fundamental trigger, if any: None

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.