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HFT Scan: Shrenik and Seacost Shipping Services record hectic trading

Shreink Limited, Seacost Shipping Services, and Sonu Infratech closed higher on March 21.

March 22, 2024 / 06:43 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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    Shreink Limited, Seacost Shipping Services, and Sonu Infratech saw high-frequency trading on March 21 with all the stocks closing 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.

    Also read: Nasdaq, Dow scale new all-time highs as US Fed holds rates steady

    Stocks where HFTs were active on March 21 :

    Sarveshwar Foods
    Active names and traded stake: Ranjeev Gupta (0.57 percent), Multiplier Shares and Stocks Advisors (0.59 percent)
    Stock movement and volumes: Gained 4.49 percent to Rs 9.3. Trading volumes at 2 crore shares versus 1-month average of 1 crore shares
    Technicals: The stock is below 50-DMA and 200-DMA
    Fundamental trigger, if any: Sarveshwar Foods on March 20 launched a campaign to promote millet cultivation in Jammu & Kashmir and Himachal Pradesh through Sarveshwar Facilitation Centres, in line with the Central Government's millet promotion initiative.

    Seacost Shipping Services
    Acive names and traded stake: Top Gain Finance Limited (0.65 percent)
    Stock movement and volumes: Gained 4.87 percent to Rs 4.09. Trading volumes at 75 lakh shares versus one-month average of  shares 8 lakh shares
    Technicals: The stock is above 50-DMA and 200-DMA
    Fundamental trigger, if any: No

    Also read: F&O Watch for March 22: SAIL makes it to NSE ban list, Zee likely to exit

    Sonu Infratech
    Active names and traded stake:  Anchal Bansal (0.57 percent)
    Stock movement and volumes: Gained 18.74 percent to Rs 58.3. Trading volumes at 3000 shares versus 1-week average of 21,000 shares
    Technicals: The stock is above 50-DMA and 200-DMAFundamental trigger, if any:  No

    Disclaimer: The views and investment tips expressed by investment 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: Mar 22, 2024 06:43 am

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