Why is IIFL Finance falling/rising?

As of 15-Oct, IIFL Finance Ltd's stock price is rising, currently at 506.25, reflecting an increase of 21.4, or 4.41%. The stock has shown strong performance today, outperforming its sector by 2.25% and reaching an intraday high of Rs 508.35. Over the past week, the stock has gained 3.59%, and in the last month, it has risen by 14.59%. Additionally, IIFL Finance is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company benefits from strong long-term fundamentals, evidenced by an average Return on Equity (ROE) of 14.71% and a high institutional holding of 34.71%, which has increased by 1.14% over the previous quarter.
In the broader market context, IIFL Finance's short-term performance significantly outpaces the benchmark Sensex, which has only increased by 1.02% over the same week. The finance/NBFC sector has also gained by 2.16%, contributing to the positive sentiment around IIFL Finance. However, it is noteworthy that there has been a decline in investor participation, with delivery volume dropping by 41.76% compared to the 5-day average. Despite this, the stock remains liquid enough for trades, indicating ongoing interest from investors. Overall, the combination of strong fundamentals and favorable market conditions has contributed to the stock's upward movement.