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HomeNewsBusinessMarketsHFT Scan: Indiabulls Real Estate, Den Networks, Motisons Jewellers see action

HFT Scan: Indiabulls Real Estate, Den Networks, Motisons Jewellers see action

Indiabulls Real Estate, Den Networks, and Motisons Jewellers touched 52-week highs.

January 11, 2024 / 06:40 IST
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    High frequency trading firms on January 10 were active in Indiabulls Real Estate, Den Networks, Motisons Jewellers making a quick buck by flipping trades in seconds. All the three stocks touched their 52-week highs.

    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 January 10:

    Indiabulls Real Estate
    Active names and traded stake: Graviton Research Capital (0.75 percent), HRTI Private Limited (0.71 percent)

    Stock movement and volumes: Gained 3.28 percent to Rs 102.25. Trading volumes at 4 crore shares versus 1-month average of 3 crore shares

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

    Fundamental trigger, if any: No

    Den Networks
    Active names and traded stake: Hriti Private Limited (0.55percent), Graviton Research Capital (0.75 percent)

    Stock movement and volumes: Up 4.39 percent to Rs 65.45. Trading volumes at 3 crore shares versus 1-month average of 76 lakh crore shares

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

    Fundamental trigger, if any: Q2 results will be announced on January 12.

    Motisons Jewellers
    Active names and traded stake: Mansi Share and Stock Advisors(0.58 percent), NK Securities Research (0.68 percent)

    Stock movement and volumes: Gained 19.99 percent to Rs 189.05. Trading volumes at 1 crore shares versus 1-month average of 59 lakh shares

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

    Fundamental trigger, if any: The company was shifted from the 'Trade for Trade segment' to the rolling segment.

     

    Srushti Vaidya
    first published: Jan 11, 2024 06:40 am

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