Reliance Power Faces Increased Selling Pressure Amid Declining Investor Participation
Reliance Power Ltd faced notable trading activity as its stock hit the lower circuit limit, closing at Rs 42.64 after a decline. The trading volume reached approximately 58.48 lakh shares, with a turnover of Rs 24.74 crore, indicating a challenging market environment and a bearish trend.
Reliance Power Ltd, a small-cap player in the power industry, experienced significant trading activity today as the stock hit its lower circuit limit. The last traded price stood at Rs 42.64, reflecting a decline of Rs 1.32 or 3.0% from the previous close. The stock reached an intraday low of Rs 41.76, marking a notable drop after two consecutive days of gains.Today's trading saw a total volume of approximately 58.48 lakh shares, resulting in a turnover of Rs 24.74 crore. The stock's performance underperformed the sector by 3.73%, with a 1D return of -4.00%. Reliance Power is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
Investor participation has also seen a decline, with delivery volume dropping by 67.72% compared to the 5-day average. The stock remains liquid enough for trades sized at Rs 2.68 crore, based on 2% of the 5-day average traded value. Overall, Reliance Power's performance today reflects a challenging market environment, with key indicators pointing towards a downward trend.
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