Why is JM Financial falling/rising?

As of 02-Jul, JM Financial Ltd's stock price is rising, currently at Rs 162.55, reflecting an increase of Rs 3.85 or 2.43%. The stock has shown strong performance, with a 1-week return of 4.97% and a remarkable 21.49% increase over the past month. It is currently trading close to its 52-week high, just 3.88% away from Rs 168.85. Additionally, JM Financial has outperformed its sector by 3.66% today and is trading above all its moving averages, indicating positive momentum. However, it is important to note that investor participation has decreased, with delivery volume falling by 51.45% compared to the 5-day average. Despite this, the stock maintains a fair valuation with a price-to-book ratio of 1.6 and high institutional holdings at 24.55%, which suggests confidence from larger investors.
In the broader market context, JM Financial's recent performance significantly outpaces the benchmark Sensex, which has only increased by 0.79% over the past week. The stock's year-to-date return of 25.52% also surpasses the Sensex's 6.75% gain, highlighting its strong market position. The stock's long-term performance is impressive, with a 79.67% return over the past year and a 171.14% increase over three years, indicating a consistent ability to outperform the market. This strong performance, coupled with high institutional interest, suggests that JM Financial is well-regarded in the current market environment, despite the recent drop in trading volume.