??Algos take over D-Street |????♀? Don't hawk tuah on my food

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Market Watch

• Sensex and Nifty hit fresh highs of 85,247.42 and 26,032.80 respectively. At the close, the Sensex was up 255.83 points at 85,169.87, and the Nifty was up 63.75 at 26,004.15.
• Sectorally, metal, media and realty indices performed well while FMCG, PSU Bank and IT were down 0.5-1%.

Algos take over D-Street

In FY24, FIIs (Foreign Institutional Investors) and proprietary traders using algorithmic trading achieved significant profits, while retail traders faced substantial losses, according to a study by the Securities and Exchange Board of India (SEBI).

• 306 out of 376 FIIs?engaged in algo trading.
• 347 out of 626 proprietary traders?also employed algorithms.
• Only 13% of retail traders utilized algorithmic strategies.

Institutional Traders vs Retail Traders: SEBI's analysis spans the last three financial years (FY22 to FY24) and shows a concerning picture for retail traders in derivatives (F&O) trading, where 1.13 crore retail traders incurred a net combined loss of ?1.81 lakh crore.

• The study revealed that nearly 93% of retail traders suffered an average loss of ?2 lakh per person, with only a small fraction of traders being profitable.
• While institutional players benefited significantly from algorithmic trading—97% of the profits of FPIs and 96% of the profits of proprietary traders came from algo entities in FY24.

What’s AlgoTest saying? AlgoTest is an algorithmic trading platform that allows retail traders to backtest and automate their trading strategies.

• According to internal data from AlgoTest, retail traders who use the platform see a significant improvement in profitability, claiming a 5x higher success rate compared to average retail traders.

Clip du jour

UK Prime Minister Keir Starmer's call for 'return of sausages' from Gaza. He means hostages.

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Don't hawk tuah on my food

Uttar Pradesh government and the Himachal Pradesh government have mandated food vendors and eateries to display the names and addresses of their owners for customer convenience. Identity cards are also set to be introduced.

The context: Incidents of food tampering in Uttar Pradesh sparked outrage, with arrests made after viral videos showed saliva and other contaminants being added to food and drinks in Saharanpur, Ghaziabad, and Noida.

Hygiene mandates: Eateries must display the names and addresses of operators, proprietors, and managers prominently.

• Installation of CCTV cameras in all major areas of food establishments is mandatory to ensure security and compliance.
• Chefs and staff are required to wear masks and gloves to maintain hygiene standards.
• A comprehensive verification of all employees at food establishments will be conducted by a joint team from Food Safety, Police, and Local Administration.
• Immediate action will be taken against any violations, with potential amendments to the Food Safety and Standards Act.

ICYMI

• ????Airtel launches India's first Al-powered network solution for spam detection.
• ?????♂?Israel's latest recruitment drive aims to bring in 10,000 skilled construction workers. Earlier, the bilateral job scheme?faced significant challenges due to skill mismatches.
• ????How 15 men 'scammed' Zerodha of over Rs 2 crore in one of India's largest online brokerages.
• ????HDFC Bank employee dies after falling off a chair, peers allege ‘work pressure’.
• ????Swiggy gets Sebi's nod for a $1.25-billion IPO.
• ??Top Hezbollah commander killed in Israeli strike on Beirut as Israel continues its offensive in Lebanon amid 560 deaths.
• ????Former CTO of Coinbase Balaji Srinivasan starts a school that teaches how to crowdfund your own country.
• ??♂???Swiss police have arrested several people after a 64-year-old American woman used the Sarco suicide pod to end her life.