Ola Electric Experiences Significant Trading Activity Amidst Market Challenges

Ola Electric Mobility Ltd, a midcap player in the automobiles sector, has emerged as one of the most active stocks today, with a total traded volume of 28,632,041 shares and a total traded value of approximately Rs 114.41 crores. The stock opened at Rs 40.00 and reached a day high of Rs 40.34, while the day low was recorded at Rs 39.62. The last traded price stands at Rs 39.76, reflecting a slight increase of 0.33% for the day, which is in line with the sector's performance of 0.12%.
Notably, Ola Electric hit a new 52-week and all-time low of Rs 39.60 today, following five consecutive days of decline. However, the stock has shown signs of a trend reversal, gaining traction as investor participation rises, with a delivery volume of 1.45 crore shares on July 11, marking a 26.7% increase compared to the five-day average. Despite trading below its moving averages across various time frames, the stock remains liquid, with a trade size of Rs 2.18 crores based on 2% of the five-day average traded value.

In summary, Ola Electric Mobility Ltd's performance today reflects notable trading activity and a potential shift in momentum, amidst a challenging market backdrop.