Why is Belrise Industri falling/rising?

As of 23-Jul, Belrise Industries Ltd's stock price is currently at Rs. 130.70, reflecting an increase of Rs. 4.5 or 3.57%. The stock has recently hit a new 52-week and all-time high of Rs. 131.4 today, indicating strong upward momentum. Over the past week, the stock has gained 6.35%, and in the last month, it has surged by 31.46%. Additionally, it has outperformed its sector by 2.8% today and has experienced consecutive gains over the last four days, accumulating a total return of 7.53%. However, there has been a notable decline in investor participation, with delivery volume dropping by 24.22% compared to the five-day average, which may raise concerns about sustainability in the stock's upward trend.
In the broader market context, Belrise Industries' recent performance stands in stark contrast to the Sensex, which has only increased by 0.11% over the past week and 1.01% over the past month. This significant outperformance suggests that the stock is gaining traction independently of the overall market trends. The stock is also trading above its moving averages across various time frames, indicating a bullish sentiment among investors. Despite the decrease in delivery volume, the stock remains liquid enough for trading, which may support continued interest from investors. Overall, the combination of strong recent performance and positive technical indicators contributes to the stock's rising price.