News and Views
Recent Price Movement and Market Context
On 03-Dec, Adani Total Gas’s shares fell by ₹6.45, marking a continuation of a two-day losing streak that has seen the stock drop nearly 2% over this short period. This decline comes despite the stock outperforming its sector by 0.52% on the day, suggesting sector-wide pressures are also at play. Notably, the stock is trading below all major moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a bearish technical outlook.
Investor participation appears to be waning, with delivery volumes on 02-Dec falling by 5.04% compared to the five-day average. While liquidity remains adequate for moderate trade sizes, the reduced volume hints at cautious sentiment among market participants.
