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HomeNewsBusinessMarketsHFT Scan: Laffans Petrochemicals and Cressanda Solutions in focus

HFT Scan: Laffans Petrochemicals and Cressanda Solutions in focus

Laffans Petrochemicals, and ABC Gas International closed higher.

March 07, 2024 / 06:13 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 active in Laffans Petrochemicals, Cressanda Solutions, and ABC Gas International counters on March 6. Laffans Petro and ABC Gas 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 March 6:

    Laffans Petrochemicals
    Active names and traded stake: Quantseye AI Private Limited (0.63 percent)
    Stock movement and volumes: Gained 9.89 percent to Rs 52.98 percent. Trading volumes at 1 lakh shares versus 1-month average of 38,000 shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: No

    Cressanda Solutions
    Active names and traded stake: Geetanjali Medhekhar (0.56 percent)
    Stock movement and volumes: Lost 2.3 percent to Rs 18.14. Trading volumes at 1 crore shares versus 1-month average of 94 lakh shares
    Technicals: Stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: The company has entered into a joint venture agreement with a proprietorship firm to act as an integrated partner for execution of a tender relating to provision of trolley retrieval-cum-advertisement rights issued by Netaji Subhash Chandra Bose International Airport in Kolkata.

    ABC Gas International
    Active names and traded stake: Arun Finance and Leasing Private Limited (1.41 percent)
    Stock movement and volumes: Gained 4.79 percent to Rs 67. Trading volumes at 56,000 shares versus 1-week average of 16,000 shares
    Technicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: No

    Moneycontrol News
    first published: Mar 7, 2024 06:13 am

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