New Delhi: Adani Power Limited became one of the most traded stocks in the market today as heavy buying was seen from investors and around 27.4 million shares of the Adani Power were traded during the day, worth about ₹444 crore in total.The stock opened at ₹157.26 and went up to a day’s high of ₹167.65, showing a strong intraday gain of 3.74%, by the end of trading session somewhere around 1:03 pm, the share price stood at ₹164.15.
Adani Power’s performance was stronger than its sector and the overall market. While the company’s stock jumped by nearly 3.75%, its sector moved up only 0.61%, and the Sensex rose just 0.13%. This shows that investors had more confidence in Adani Power compared to other energy stocks.
Market experts said the stock is in a positive trend because it is trading above all its major moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This means that technically, the company’s shares are showing strong momentum and could continue to perform well in the near term.
One of the most surprising things was the huge increase in delivery volume. On October 16, the delivery volume went up by more than 1,000% compared to its 5-day average. This shows that more investors were willing to hold Adani Power shares for a longer period rather than just trade them for short-term profit.
The stock also showed strong liquidity in the market, meaning that big trades could easily take place without affecting the price much. In fact, trades worth around ₹26.84 crore were executed smoothly.
