HFT Scan: Vaishali Pharma, Franklin Industries, Bodhi Tree Multimedia in focus

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 Vaishali Pharma, Franklin Industries, and Bodhi Tree Multimedia on May 9 as all three 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 spot and futures prices, but recently have been active in small, illiquid stocks as well.

The volumes generated by them, more often than not, attract retail investors to these stocks.

Stocks where HFTs were active on May 9:

Vaishali Pharma

Active names and traded stake: Citadel Securities India Private Limited (0.78 percent)

Stock movement and volumes: Gained 1.06 percent to Rs 167.55. Trading volumes at 8 lakh shares versus a 1-month average of 1 lakh shares

Technicals: Stock is 50-DMA and 200-DMA

Fundamental trigger, if any: No

Franklin Industries

Active names and traded stake: Topgain Finance (0.69 percent), Camellia Tradex Private Limited (0.71 percent)

Stock movement and volumes: Gained 4.94 percent to Rs 7.4. Trading volumes at 12 lakh shares versus a 1-month average of 5 lakh shares

Technicals: Stock is 50-DMA and 200-DMA

Fundamental trigger, if any: No

Bodhi Tree Multimedia

Active names and traded stake: Graviton Research Capital (0.75 percent)

Stock movement and volumes: Gained 6.05 percent to Rs 18.4. Trading volumes at 57 lakh shares versus a 1-month average of 27 lakh shares

Technicals: Stock is 50-DMA and 200-DMA

Fundamental trigger, if any: The company approved raising of funds on May 3