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HomeNewsBusinessMarketsHFT Scan: Algos target Zaggle Prepaid Ocean Services, Kellton Tech Solutions

HFT Scan: Algos target Zaggle Prepaid Ocean Services, Kellton Tech Solutions

Zaggle Prepaid Ocean Services and Kellton Tech Solutions touched a 52-week high.

February 27, 2024 / 06:16 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 were most active in Zaggle Prepaid Ocean Services, Kellton Tech Solutions, and BGR Energy Systems counters on February 26. Zaggle Prepaid Ocean Services and Kellton Tech Solutions 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 26:

    Zaggle Prepaid Ocean Services
    Active names and traded stake: Graviton Research Capital (0.61 percent), Yuga Stocks and Commodities (0.51 percent)
    Stock movement and volumes: Gained 18.68 percent to Rs 340.5. Trading volumes at 1 crore shares versus 1-month average of 38 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: The company on February 20 said that EaseMyTrip and Zaggle will offer integrated travel and expense management solutions to corporate clients

    Kellton Tech Solutions
    Active names and traded stake: HRTI Private Limited (0.53 percent), Citadel Securities ( 0.73 percent), QE Securities ( 0.25 percent)
    Stock movement and volumes: Gained 8.77 percent to Rs 108.55. Trading volumes at 1 crore shares versus 1-month average of 21 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: The company on February 14 announced its Q3FY24 results

    BGR Energy Solutions
    Active names and traded stake: Graviton Research Capital (0.51 percent), Citadel Securities (0.56 percent)
    Stock movement and volumes: Lost 10.83 percent to Rs 76.15. Trading volumes at 79 lakh shares versus 1-week average of 28 lakh shares
    Technicals: Stock is below 50-DMA and 200-DMAFundamental trigger, if any: No

    Moneycontrol News
    first published: Feb 27, 2024 06:16 am

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