HFT Scan | Algo traders focus on Jamna Auto Industries and Simple Castings

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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Jamna Auto Industries, Rico Auto Industries, and Simple Castings saw high-frequency trading on March 1. Jamna Auto Industries, Rico Auto Industries, and Simple Castings closed 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 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 1:

Jamna Auto Industries
Active names and traded stake: QE Securities (0.9 percent), Graviton Research Capital (0.67 percent)
Stock movement and volumes: Gained 4.22 percent to Rs 135.7. Trading volumes at 6 crore shares versus 1-month average of 95 lakh shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: The company on February 7 announced its Q3FY24 results

Rico Auto Industries 
Active names and traded stake: Graviton Research Capital (0.88 percent), QE Securities (0.92 percent), Aakraya Research (0.66 percent)
Stock movement and volumes: Gained 4.96 percent to Rs 130.05. Trading volumes at 4 crore shares versus 1-month average of 41 lakh shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: No

Simple Castings
Active names and traded stake: Multiplier Share and Stock Advisors Limited (0.73 percent)
Stock movement and volumes: Gained 4.98 percent to Rs 123.4. Trading volumes at 1 lakh shares versus 1-week average of 38 thousand sharesFundamental trigger, if any: No