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HFT Scan: Algo traders zoom in on Vodafone Idea and Pearl Polymers

Vodafone Idea, Pearl Polymers, and Zuari Industries touched a 52-week high.

February 26, 2024 / 07:21 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 trading was seen in Vodafone Idea, Pearl Polymers, and Zuari Industries. Vodafone Idea, Pearl Polymers, and Zuari Industries 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 23:

    Vodafone Idea 
    Active names and traded stake: HRTI Private Limited (0.54 percent)
    Stock movement and volumes: Gained 7.67 percent to Rs 17.55. Trading volumes at 200 crore shares as against a one-month average of 47 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: No

    Pearl Polymers 
    Active names and traded stake: Citadel Securities (0.8 percent), Chimpa Narayan (0.84 percent)
    Stock movement and volumes: Gained 6.79 percent to Rs 39.75. Trading volumes at 22 lakh shares versus one-month average of 5 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: The company on February 9 announced its Q3FY24 results

    Zuari Industries
    Active names and traded stake:  Graviton Research Capital (0.56 percent), Pigeon Exports International (0.5 percent)
    Stock movement and volumes: Gained 0.24 percent to Rs 313.4. Trading volumes at 19 lakh shares versus 1-week average of 5 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: No

    Moneycontrol News
    first published: Feb 26, 2024 06:22 am

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