HFT Scan: Gujarat Cortex and Amit International in focus of algo traders

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 the Gujarat Cortex and Amit International counters. Both the stocks closed higher.

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 April 25:

Gujarat Cotex
Active names and traded stake: Prithvi Finmart (0.89 percent), Ajay Singh (0.7 percent)
Stock movement and volumes: Lost 4.83 percent to Rs 5.12. Trading volumes at 7 lakh shares versus 1-month average of 24,000  shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: No

Amit International
Active names and traded stake: Maitreevaria (0.53 percent)
Stock movement and volumes: Gained 4.49 percent to Rs 4.19. Trading volumes at 1 lakh shares versus 1-month average of 19,000 shares
Technicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: No