Australian champion Simon Gerrans took possession of the Tour Down Under leader's jersey in a dramatic fifth and penultimate stage won by Spaniard Alejandro Valverde Saturday.

Heading into Sunday's 90 km race around Adelaide, Gerrans, of GreenEdge, is on the same time as Movistar team leader Valverde.

In a thrilling end to the 150 km stage, which started in McLaren Vale and finished on Old Willunga Hill, Valverde pipped Gerrans in an uphill sprint for the finish line.

While Gerrans will now look to defend his lead, and thus give GreenEdge their first race victory, Movistar were celebrating a stylish win for Valverde on what is his first race since returning from a two-year ban for doping.

Gerrans said: "It's fantastic, it's a pretty special moment for GreenEdge. In our first WorldTour outing, to have the lead going into the last stage is pretty good."