Business
HFT Scan: HT Media, Shipping Corporation, GE Power record hectic trading
HFT Scan: HT Media, Shipping Corporation, GE Power record hectic trading
About this update from Ht Media Limited
High frequency trading firms were active in HT Media, Shipping Corporation of India, GE Power India making a quick buck by flipping trades in seconds on February 2 . All the stocks touched their 52-week highs.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.Stocks where HFTs were active on February 2:HT MediaActive names and traded stake: Graviton Research Capital (0.62 percent)Stock movement and volumes: Gained 8.58 percent to Rs 35.8. Trading volumes at 1 crore shares versus 1-month average of 31 lakh sharesTechnicals: Stock is below 50-DMA and 200-DMAFundamental trigger, if any: The company reported a flat YoY revenue in Q3FY24 on January 19Shipping Corporation of IndiaActive names and traded stake: Graviton Research Capital (0.95 percent)Stock movement and volumes: Gained 14.83 percent to Rs 265.2. Trading volumes at 5 crore shares versus 1-month average of 1 crore sharesTechnicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: The company on February 9 announced its Q3FY24 results.GE PowerActive names and traded stake: Graviton Research Capital (0.52 percent)Stock movement and volumes: Lost 4.45 percent to Rs 283.5. Trading volumes at 28 lakh shares versus 1-month average of 13 lakh sharesTechnicals: Stock is below 50-DMA and 200-DMAFundamental trigger, if any: The company on January 23 received an letter of intent from NTPC for supply of spares for 660 MW generator overhauling at Nabinagar Super Thermal Power Station.