Gujarat Mineral Development Corporation Ltd. Trades 1.98 Million Shares, Surges 4.16% Today

Gujarat Mineral Development Corporation Ltd. (GMDCLTD) has emerged as one of the most active stocks today, reflecting significant trading activity in the minerals and mining sector. The company recorded a total traded volume of 1,983,849 shares, with a total traded value of approximately Rs 120.14 crores. The stock opened at Rs 592.00 and reached an intraday high of Rs 613.50, marking a gain of 4.16% from the previous close of Rs 589.00.
Notably, GMDCLTD has outperformed its sector by 3.13%, indicating a positive shift in its market position. This performance comes after a three-day decline, suggesting a potential trend reversal. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which is a positive indicator of its recent momentum.

However, it is important to note that investor participation has seen a decline, with delivery volume dropping by 56.24% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of up to Rs 21.74 crores, based on 2% of the 5-day average traded value. Overall, GMDCLTD's performance today reflects a notable recovery amidst fluctuating investor engagement.