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HFT Scan: Algo traders focus on Vodafone Idea and MOIL

Original source (on modern site) | Article images: [1]

MOIL touched a 52-week high on March 23.

April 24, 2024 / 06:18 AM 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 seen in Vodafone Idea, MOIL, and Mahanagar Gas counters on March 23. MOIL hit a 52-week high on March 23.

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 they have recently 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 April 23:

Vodafone Idea

Active names and traded stake: HRTI Private Limited (0.74 percent)

Stock movement and volumes: Gained 11.63 percent to Rs 14.4. Trading volumes at 251 crore shares versus 1-month average of 91 crore shares

Technicals: The stock is above 50-DMA and 200-DMAFundamental trigger, if any: The company in April did a follow-on public offer amounting to Rs 18,000 crore

MOIL

Acive names and traded stake: Graviton Research Capital (0.63 percent)

Stock movement and volumes: Gained 9.6 percent to Rs 378.95. Trading volumes at 2 crore shares versus 1-month average of 40 lakh shares

Technicals: The stock is above 50-DMA and 200-DMAFundamental trigger, if any: No

Mahanagar Telephone Limited 

Active names and traded stake: Ankita Shah (0.27 percent)

Stock movement and volumes: Gained 5.12 percent to Rs 37.95. Trading volumes at 1 crore shares versus 1-month average of 43 lakh shares

Technicals: The stock is below 50-DMA and 200-DMAFundamental trigger, if any: No

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