HFT Scan | Algo traders focus on Jamna Auto Industries and Simple Castings

About this update from Rico Auto Industries Limited

Jamna Auto Industries, Rico Auto Industries, and Simple Castings saw high-frequency trading on March 1. Jamna Auto Industries, Rico Auto Industries, and Simple Castings closed 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.Stocks where HFTs were active on March 1:Jamna Auto IndustriesActive names and traded stake: QE Securities (0.9 percent), Graviton Research Capital (0.67 percent)Stock movement and volumes: Gained 4.22 percent to Rs 135.7. Trading volumes at 6 crore shares versus 1-month average of 95 lakh sharesTechnicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: The company on February 7 announced its Q3FY24 resultsRico Auto Industries Active names and traded stake: Graviton Research Capital (0.88 percent), QE Securities (0.92 percent), Aakraya Research (0.66 percent)Stock movement and volumes: Gained 4.96 percent to Rs 130.05. Trading volumes at 4 crore shares versus 1-month average of 41 lakh sharesTechnicals: Stock is above 50-DMA and 200-DMAFundamental trigger, if any: NoSimple CastingsActive names and traded stake: Multiplier Share and Stock Advisors Limited (0.73 percent)Stock movement and volumes: Gained 4.98 percent to Rs 123.4. Trading volumes at 1 lakh shares versus 1-week average of 38 thousand sharesFundamental trigger, if any: No

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