Why is Jio Financial falling/rising?

As of 26-Jun, Jio Financial Services Ltd is experiencing a price increase, currently at Rs 312.40, reflecting a rise of Rs 9.15 or 3.02%. The stock has shown strong performance recently, outperforming its sector by 1.69% today and achieving consecutive gains over the last three days, with a total increase of 6.58% during this period. Additionally, the stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. However, it is worth noting that there has been a decline in investor participation, with delivery volume falling by 22.77% compared to the 5-day average. The company has demonstrated strong long-term fundamentals, with significant growth in operating profits and net sales, which may contribute to investor confidence and the stock's upward movement.
In the broader market context, Jio Financial's short-term return of 9.94% over the past week significantly outpaces the benchmark Sensex, which has only increased by 2.94% in the same period. This indicates that the stock is not only performing well on its own but is also gaining traction relative to the overall market. Despite a year-to-date return of 4.57% being lower than the Sensex's 7.19%, the strong institutional holdings at 26.04% suggest that knowledgeable investors are backing the stock, which could further support its price increase. Overall, the combination of strong fundamentals, recent price performance, and relative outperformance against the benchmark contributes to the stock's rising trend.