Why is Golkunda Diamond falling/rising?

As of 20-Oct, Golkunda Diamonds & Jewellery Ltd is experiencing a significant rise in its stock price, currently at Rs 218.50, reflecting an increase of Rs 36.4 or 19.99%. The stock has shown strong performance today, outperforming its sector by 18.41% and has been on a consecutive gain streak for the last six days, accumulating a total return of 28.53% during this period. It opened with a notable gain of 9.83% today and reached an intraday high of Rs 218.5. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. There has also been a significant increase in investor participation, with delivery volume rising by 301.26% compared to the 5-day average, suggesting heightened interest and confidence in the stock.
In the broader market context, Golkunda Diamonds has outperformed the Sensex over the past week, with a return of 27.78% compared to the benchmark's 2.47%. This trend of outperformance is consistent over the past month, where the stock gained 28.00% against the Sensex's 2.10%. Despite a decline of 22.19% over the past year, the recent performance indicates a strong recovery phase. The stock's high volatility today, with an intraday volatility of 6.98%, reflects active trading and investor engagement, contributing to its rising price. Overall, the combination of strong short-term returns, increased trading volume, and positive market sentiment has driven the stock's price upward.