HFT Scan: Algo traders zoom in on Snowman Logistics, Deepak Fertilizers

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 trading was active in Snowman Logistics, Mangalam Drugs and Organics and Deepak Fertilizers on February 20. Snowman Logistics, Mangalam Drugs and Organics touched a 52-week high.

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 February 20:

Snowman Logistics
Active names and traded stake: HRTI Private Limited (0.99 percent), Graviton Research Capital (0.95 percent), QE Securities (0.66 percent), Citadel Securities (0.6 percent)
Stock movement and volumes: Gained 10.74 percent to Rs 81.95. Trading volumes at 3 crore shares versus 1-month average of 39 lakh shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: The company on February 14 announced its Q3FY24 results

Mangalam Drugs and Organics
Active names and traded stake: Citadel Securities ( 0.66 percent), NK Securities (0.55 percent), QE Securities ( 0.51 percent)
Stock movement and volumes: Gained 10.9 percent to Rs 127.15. Trading volumes at 20 lakh shares versus 1-month average of 3 lakh shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: The company on February 13 announced its Q3FY24 results

Deepak Fertilizers  
Active names and traded stake: Graviton Research Capital (0.68 percent), BNP Arbitrage (0.75 percent)
Stock movement and volumes: Gained 4.07 percent to Rs 514.55. Trading volumes at 3 crore shares versus 1-week average of 1 crore shares
Technicals: Stock is below 50-DMA and 200-DMAFundamental trigger, if any: The company and Equinor, an
international energy company headquartered in Norway, have entered into a long-term supply agreement for LNG.