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HFT Scan : Coffee Day and Parle Industries in focus

Century Enka touched a 52-week high on May 5.

May 08, 2024 / 06:40 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 active in Coffee Day Enterprises, Parle Industries, and Century Enka on May 5. Additionally, Century Enka 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 May 7 :

    Coffee Day Enterprises 
    Active names and traded stake: HRTI Private Limited (0.72 percent)

    Stock movement and volumes: Gained 1 percent to Rs 729.7. Trading volumes at 1 crore shares versus 1-month average of 91 lakh shares

    Technicals: Stock is below 50-DMA and 200-DMA

    Fundamental trigger, if any: No

    Parle Industries
    Active names and traded stake: Bonzana Portfolio (0.9 percent), Spark Finance (2.14 percent), Camellia Tradex Private Limited (0.72 percent), Lathe Derivatives Private Limited (0.36 percent)

    Stock movement and volumes: Gained 19.97 percent to Rs 15.2. Trading volumes at 29 lakh shares versus 1-month average of 5 lakh shares

    Technicals: Stock is above 50-DMA and 200-DMA

    Fundamental trigger, if any: No

    Century Enka
    Active names and traded stake: Graviton Research Capital (0.55 percent)

    Stock movement and volumes: Gained 5.77 percent to Rs 550.1. Trading volumes at 10 lakh shares versus 1-month average of 2 lakh shares

    Technicals: Stock is above 50-DMA and 200-DMA

    Fundamental trigger, if any: No

    Moneycontrol News
    first published: May 8, 2024 06:40 am

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