HFT Scan: Algo traders zoom in on Tourism Finance Corp, Foods and Inns

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 Tourism Finance Corporation, Rico Industries, and Foods and Inns on March 15. Tourism Finance Corporation and Foods and Inns closed lower.

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 15:

Tourism Finance Corporation
Active names and traded stake: Mansi Share and Stock Advisors (0.77 percent)
Stock movement and volumes: Lost 5 percent to Rs 185.15. Trading volumes at 43 lakh shares versus 1-month average of 46 lakh crore shares
Technicals: Stock is below 50-DMA and 200-DMA
Fundamental trigger, if any: No

Rico Industries
Active names and traded stake: HRTI Private Limited (0.7 percent)
Stock movement and volumes: Gained 0.64 percent to Rs 13.25. Trading volumes at 1 crore shares versus 1-month average of 85 lakh shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: No

Foods and Inns
Active names and traded stake: Crony Vyapar (0.52 percent)
Stock movement and volumes: Lost 5.09 percent to Rs 133.2. Trading volumes at 12 lakh shares versus 1-week average of 4 lakh shares
Technicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: No