High-frequency trading was active in Fiberweb India, Gulf Oil Lubricants India, and Hindustan Copper on May 22. Hindustan Copper touched a 52-week high on May 22.
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 22 :
Fiberweb India
Active names and traded stake: NK Securities (0.95 percent), Dharmik Vithalabhai Kapuriya (0.54 percent),
Stock movement and volumes: Gained 12.21 percent to Rs 41.35. Trading volumes at 50 lakh shares versus 1-month average of 4 lakh shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: The company on May 22 announced its Q4FY24 results
Gulf Oil Lubricants India
Active names and traded stake: Graviton Research Capital (0.54 percent)
Stock movement and volumes: Gained 11.27 percent to Rs 1045.8. Trading volumes at 18 lakh shares versus 1-month average of 2 lakh shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: No
Hindustan Copper
Active names and traded stake: Graviton Research Capital (0.52 percent)
Stock movement and volumes: Lost 4.05 percent to Rs 383. Trading volumes at 6 crore shares versus 1-month average of 1 crore shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: No
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