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HFT Scan: Nova Agritech and National Fertilizers in focus

Likhitha Infrastructure touched a 52-week high on June 10.

June 11, 2024 / 08:10 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 Nova Agritech, National Fertilizers, and Likhitha Infrastructure on June 10. Likhitha Infrastructure touched a 52-week high on June 10.

    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 June 10:

    Nova Agritech
    Active names and traded stake: Graviton Research Capital (0.52 percent)

    Stock movement and volumes: Gained 13.29 percent to Rs 62.76. Trading volumes at 77 lakh shares versus 1-month average of 6 lakh shares

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

    Fundamental trigger, if any: No

    National Fertilizers
    Active names and traded stake: Graviton Research Capital (0.76 percent)

    Stock movement and volumes: Lost 11.69 percent to Rs 115.43. Trading volumes at 4 crore shares versus 1-month average of 42 lakh shares

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

    Fundamental trigger, if any: No

    Likhitha Infrastructure 
    Active names and traded stake: Graviton Research Capital (0.64 percent)

    Stock movement and volumes: Lost 19.8 percent to Rs 426.25. Trading volumes at 38 lakh shares versus 1-month average of 48 lakh shares

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

    Fundamental trigger, if any: No

    Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Srushti Vaidya
    first published: Jun 11, 2024 07:47 am

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