Why is BSE falling/rising?

As of 07-Aug, BSE Ltd's stock price is currently at 2,442.20, reflecting an increase of 54.6, or 2.29%. The stock has shown strong performance today, outperforming its sector by 2.07%, and reached an intraday high of Rs 2454, marking a 2.78% rise. Notably, the stock has demonstrated impressive long-term growth, with a year-to-date return of 37.56% and a staggering 205.42% increase over the past year. The company has consistently reported positive results for the last nine consecutive quarters, with a significant growth in net profit and operating profits. Additionally, high institutional holdings at 37.03% suggest strong confidence from knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, BSE Ltd's short-term return of +0.61% over the past week contrasts with the Sensex's decline of -0.70%, indicating that the stock is performing well relative to the market. While the stock has faced some volatility, as evidenced by erratic trading patterns, the rising investor participation, with a 303.49% increase in delivery volume, suggests growing interest and confidence among investors. Despite its very expensive valuation indicated by a high Price to Book Value ratio, the stock's strong fundamentals and consistent returns over the past three years position it favorably against the benchmark, contributing to its recent price rise.