Adani Stocks Buzzing in Trade

04 June 20245 mins read by Angel One

Adani stocks surged with significant gains and strong trading volumes, driven by investor confidence ahead of the final phase of the Lok Sabha elections.

Benchmark indices Nifty50 and Sensex ended the day in green. Nifty 50 gained 42.05 points to reach 22,530.70. Sensex increased 75.71 points from the previous day’s close, reaching 73,961.31.

But what caught the investors’ attention is the run in Adani stocks. All Adani stocks have turned green, supported by strong volumes.

Let’s look at how the Adani stocks fared today:

Stock	Closing price	Gain	Traded Volume (Lakhs)	Traded Value (RS. Cr)
Adani Total Gas	1045	9.40%	85.53	873.92
Adani Power	760	8.82%	329.86	2487
NDTV	247.85	7.78%	25.49	62.82
Adani enterprises	3416	6.94%	63.85	2144.86
Adani Ports	1439	4.01%	82.39	1177.08
Adani Wilmar	355.4	3.16%	70.25	249.04
Adani Energy Solutions	1120	1.86%	91.42	1029.27
Adani Green	1912.9	2.03%	44.88	863.79

Adani Total Gas

Adani Total Gas led the rally with a notable gain of 9.40%, reflecting strong investor confidence. The stock opened at Rs. 966 and reached an intraday high of Rs. 1060. With a traded volume of 85.53 lakh shares and a traded value of Rs. 873.92 crore, it was one of the top performers among the Adani group stocks.

Adani Power

Adani Power experienced a significant surge, opening at Rs. 705.80 and hitting an intraday high of Rs. 797. The stock gained 8.82%, supported by a massive traded volume of 329.86 lakh shares and a traded value of Rs. 2487 crore, making it the most traded stock in the Adani portfolio for the day.

NDTV

NDTV saw a healthy gain of 7.78%, opening at Rs. 231.60 and peaking at Rs. 255.75 during the intraday session. The stock’s traded volume stood at 25.49 lakh shares, with a traded value of Rs. 62.82 crore, reflecting strong trading activity.

Adani Enterprises

Adani Enterprises registered a gain of 6.94%, opening at Rs. 3225.25 and reaching an intraday high of Rs. 3434.45. The stock had a traded volume of 63.85 lakh shares and a traded value of Rs. 2144.86 crore, indicating robust trading interest and investor confidence.

Adani Ports

Adani Ports opened at Rs. 1391 and reached an intraday high of Rs. 1451, gaining 4.01% by the end of the session. The stock saw a traded volume of 82.39 lakh shares and a traded value of Rs. 1177.08 crore, showing moderate but steady trading activity.

Adani Wilmar

Adani Wilmar opened at Rs. 348 and peaked at Rs. 361.55 during intraday trading, resulting in a gain of 3.16%. The stock had a traded volume of 70.25 lakh shares and a traded value of Rs. 249.04 crore, reflecting consistent trading activity.

Adani Energy Solutions

Adani Energy Solutions opened at Rs. 1106.90 and reached an intraday high of Rs. 1150.10, ending the day with a gain of 1.86%. The stock’s traded volume was 91.42 lakh shares, with a traded value of Rs 1029.27 crore, indicating high trading volume and interest.

Adani Green

Adani Green opened at Rs. 1874 and climbed to an intraday high of Rs. 1993.90, gaining 2.03% by the day’s end. The stock saw a traded volume of 44.88 lakh shares and a traded value of Rs. 863.79 crore, demonstrating solid trading activity.

Conclusion

The growth in Adani stocks can be attributed to market participants’ confidence in the formation of the incumbent government. The last phase of Lok Sabha elections will be held tomorrow. A total of 57 constituencies from 8 states and union territories will participate in the 7th phase of Lok Sabha elections.

The results of the Lok Sabha elections will be out on June 4, 2024.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.