Why is Mahickra Chem. falling/rising?

As of 22-Sep, Mahickra Chemicals Ltd is experiencing a price increase, with its current price at 159.95, reflecting a change of 0.95 or 0.6% upward. The stock has shown strong performance, outperforming its sector by 1.43% today. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Over the past week, the stock has risen by 5.93%, and it has delivered a remarkable year-to-date return of 41.55%. However, there has been a notable decline in investor participation, with delivery volume dropping by 47.37% compared to the 5-day average, which could be a concern for future momentum.
In the broader market context, Mahickra Chemicals Ltd has significantly outperformed the Sensex, which has only increased by 0.53% over the past week. This contrast highlights the stock's strong relative strength in the current market environment. Additionally, the stock's year-to-date performance of 41.55% far exceeds the Sensex's 6.59%, reinforcing its positive trajectory. Despite the drop in delivery volume, the overall liquidity remains adequate for trading, suggesting that while investor participation may be waning, the stock's fundamentals and market position continue to support its rising price.