Citadel Securities was a net buyer in Tourism Finance Corp and SBC Exports Limited on January 15 and a net seller in Infibeam Avenues Limited. All the three stocks scaled their 52-week highs during the day.
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.
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Tourism Finance Corp
Citadel Securities net bought 9 lakh Tourism Finance Corp shares.
Stock movement and volumes: Gained 19.99 percent to Rs 171.1. Trading volumes at 6 crore shares versus 1-month average of 61 lakh shares
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: No
SBC Exports Limited Citadel Securities net bought 17 lakh shares.
Stock movement and volumes: Gained 18.49 percent at Rs 36.85. Trading volumes at 3 crore shares versus 1-month average of 56 lakh shares.
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: SBC Exports received an award from Ministry of Electronics and Information Technology for Rs 43 lakh on January 9.
Infibeam Avenues Limited Citadel Securities net sold 1.5 crore Infibeam Avenues shares.
Stock movement and volumes: Up 0.75 percent to Rs 26.75. Trading volumes at 19 crore shares versus 1-month average of 7 crore shares.
Technicals: Stock is above 50-DMA and 200-DMA
Fundamental trigger, if any: No
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