Why is ICICI Lombard falling/rising?

As of 25-Jun, ICICI Lombard General Insurance Company Ltd is experiencing a price increase, currently at 2,010.65, reflecting a rise of 24.15 or 1.22%. The stock has been on an upward trend, gaining for the last four consecutive days with a total return of 4.48% during this period. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. Despite a decline in delivery volume by 33.8% compared to the 5-day average, the stock maintains a solid long-term fundamental strength, evidenced by an average Return on Equity (ROE) of 16.56% and high institutional holdings at 41.52%. This suggests that institutional investors, who typically have more resources to analyze company fundamentals, are confident in the stock's performance.
In the broader market context, ICICI Lombard has outperformed the benchmark Sensex, with a 1-week return of 3.97% compared to the Sensex's 1.61% and a year-to-date return of 12.15% versus the Sensex's 5.91%. This market-beating performance, both in the short term and long term, reinforces investor confidence in the stock. The company's ability to generate returns that exceed those of the BSE 500 over various periods further supports its rising price, despite the recent drop in investor participation. Overall, the combination of strong fundamentals, institutional backing, and superior performance relative to the market contributes to the stock's upward movement.