Why is ICICI Pru Life falling/rising?

As of 09-Jul, ICICI Prudential Life Insurance Company Ltd is experiencing a price increase, currently at 680.75, reflecting a rise of 18.0 or 2.72%. The stock has shown strong performance today, outperforming its sector by 2.34% and reaching an intraday high of Rs 683.4, which is a 3.12% increase. Over the past week, the stock has gained 3.74%, and over the past month, it has risen by 7.20%. Despite a recent decline in delivery volume by 37.6% against the 5-day average, the stock is trading above all key moving averages, indicating positive momentum. The company's strong long-term fundamentals, highlighted by a 27.48% CAGR growth in net sales and impressive quarterly results, have contributed to its recent upward movement.
In the broader market context, the stock's short-term return of 3.74% over the past week significantly outpaces the Sensex, which has only increased by 0.15%. This indicates that ICICI Prudential Life is performing well compared to the overall market. The high institutional holdings at 22.05% suggest that informed investors are confident in the company's prospects, further supporting the stock's rise. Overall, the combination of strong financial performance, positive investor sentiment, and favorable comparisons to the benchmark has contributed to the stock's upward trajectory.