Adani Enterprises share price closes at ₹2,900; falls 3.11% on September 24

Key Takeaways

• Adani Enterprises ended September 24 at ₹2,900, down 3.11% or ₹93.20, after opening at the session high of ₹2,978 and finishing close to the ₹2,898 low. 
• The closing price was below the 50-day DMA of ₹2,987.80, but remained above the 100-day DMA of ₹2,882.70 and 200-day DMA of ₹2,705.40. 
• The six-month return stood at 58.21% and the one-year return at 11.77%, while the shorter one-month and three-month readings were negative. 

Adani Enterprises share price closed the September 24 session at ₹2,900, down ₹93.20 or 3.11%. The previous close was ₹2,993. The stock opened at ₹2,978, which was also the session high, before reaching a low of ₹2,898. Only ₹2 separated the closing price from that rounded low, placing the finish at the lower end of the day’s ₹80 displayed range. 

The opening price being identical to the high was one of the more distinct features of the session. From ₹2,978 at the open to ₹2,900 at the finish, the stock lost ₹78 on the displayed levels. Volume reached 1,111,776 shares during the day. Market capitalisation stood at ₹392,489 crore. 

Against its moving averages, the September 24 close occupied different positions depending on the reference period. The 50-day DMA was ₹2,987.80, leaving the share price ₹87.80 below it. The 100-day DMA stood at ₹2,882.70, only ₹17.30 below the close, while the 200-day DMA was considerably lower at ₹2,705.40. The 50-day and 200-day averages were ₹282.40 apart. 

The wider price range ran from a 52-week low of ₹1,753 to a 52-week high of ₹3,245. At ₹2,900, Adani Enterprises was ₹1,147 above the annual low and ₹345 short of the annual high. That compares with the much smaller ₹80 spread recorded between the September 24 high and low. 

Return figures were uneven across periods. The one-month return was -3.24% and the three-month reading was -2.12%. Six months showed a much stronger 58.21%, while the one-year return was 11.77%. The difference between the six-month and one-year figures was 46.44 percentage points. 

The nearest of the three displayed moving averages to the closing price was the 100-day DMA. It was separated from the close by only ₹17.30, compared with ₹87.80 for the 50-day average and ₹194.60 for the 200-day average. The short-term return readings and the longer six-month figure therefore occupied markedly different numerical ranges without implying anything about subsequent price direction.