Why is Balaji Phos. falling/rising?

As of 02-September, Balaji Phosphates Ltd is experiencing a price increase, currently at Rs 183.80, reflecting a rise of Rs 2.6 or 1.43%. The stock is trading very close to its 52-week high, just 0.03% away from Rs 183.85. In the past week, the stock has shown a strong performance with a return of +10.39%, significantly outperforming the Sensex, which has declined by -0.54%. Additionally, Balaji Phosphates is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, there has been a notable decline in investor participation, with delivery volume dropping by -66.67% compared to the 5-day average, which could be a concern for future momentum.
In the broader market context, while Balaji Phosphates has outperformed the benchmark index in the short term, the Sensex has only seen a marginal increase of +0.06% over the past month. This suggests that the stock's rise is not entirely reflective of the overall market conditions, which have been relatively flat. The liquidity of the stock remains adequate for trading, as it is based on 2% of the 5-day average traded value, allowing for trades of Rs 0.01 crore. Overall, while the stock is currently rising, the significant drop in delivery volume may indicate potential caution among investors moving forward.