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HFT Scan: Algo traders drive Dish TV, Indiabulls Real Estate higher

All the stocks closed higher.

March 15, 2024 / 06:17 IST
High-frequency trading firms (HTFs) – or algo firms on steroids –use complex algorithms and powerful computers to execute trades at lightning speeds
     
     
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    High-frequency traders zoomed in on Dish TV, Indiabulls Real Estate, and Indian Hume Pipe Company, on March 14, driving all the counters higher at close.

    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 the 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 March 14:

    Dish TV
    Active names and traded stake: HRTI Private Limited (0.6 percent)
    Stock movement and volumes: Gained 7.97 percent to Rs 17.7. Trading volumes at 8 crore shares versus 1-month average of 9 crore shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: The company on March 5 appointed Swami Mehra as the head of customer engagement

    Indiabulls Real Estate
    Active names and traded stake: HRTI Private Limited (0.52 percent)
    Stock movement and volumes: Gained 7.01 percent to Rs 106.15. Trading volumes at 2 crore shares versus 1-month average of 2 crore shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: NA

    Indian Hume Pipe Company
    Active names and traded stake: Graviton Research Capital (o.5 percent)
    Stock movement and volumes: Gained 16.1 percent to Rs 274.05. Trading volumes at 24 lakh shares versus 1-week average of 5 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: The company was awarded the work order relating to water supply projects and sewerage projects under
    AMRUT 2.0 by the Government of Telangana.

    Moneycontrol News
    first published: Mar 15, 2024 06:17 am

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