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HFT Scan : TruCap Finance and Engineers India in focus

TruCap Finance closed higher and Engineers India closed lower on June 5.

June 06, 2024 / 06:28 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 TruCap Finance and Engineers India on June 5. TruCap Finance closed higher and Engineers India closed lower on June 5.

    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 5:

    TruCap Finance
    Active names and traded stake: Intermobility Visa Solution Private Limited (0.83 percent), Jainam Broking (0.87 percent), IND Swift Laboratories (0.75 percent)

    Stock movement and volumes: Gained 1.52 percent to Rs 56.75. Trading volumes at 61 lakh shares versus 1-month average of 45 lakh shares

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

    Fundamental trigger, if any: No

     Engineers India
    Acive names and traded stake: Graviton Research Capital (0.55 percent)

    Stock movement and volumes: Lost 2.5 percent to Rs 216.8. Trading volumes at 3 crore shares versus 1-month average of 1 crore shares

    Technicals: Stock is above 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.

    Moneycontrol News
    first published: Jun 6, 2024 06:28 am

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