Why is Kalyan Jewellers falling/rising?

As of 05-Aug, Kalyan Jewellers India Ltd is currently priced at 598.70, reflecting an increase of 2.05 (0.34%). The stock has shown a positive trend recently, gaining 2.72% over the last two days, although it underperformed its sector by 0.59% today. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum. Despite this, there has been a notable decline in investor participation, with delivery volume falling by 29.91% compared to the 5-day average. The company has demonstrated healthy long-term growth, with net sales increasing by 38.07% over the last six months and a consistent positive performance over the last eight quarters, which may support investor confidence.
In the broader market context, Kalyan Jewellers has underperformed the benchmark Sensex in the short term, with a 1-week return of -0.98% compared to the Sensex's -0.77%. However, the stock has outperformed the benchmark over the past month, gaining 2.28% while the Sensex declined by 3.26%. The company's high institutional holdings at 30.16% and their increased stake suggest a strong belief in the company's fundamentals, which could be contributing to the recent price rise. Overall, while the stock has shown some positive movements, the decline in trading volume and recent underperformance against the sector may temper the outlook.