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-DMA Fundamental trigger, if any: No
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