Why is Manoj Jewellers falling/rising?

As of 20-Jun, Manoj Jewellers Ltd is experiencing a price increase, currently at Rs 48.00, which reflects a rise of Rs 3.3 or 7.38%. The stock has shown strong performance today, outperforming its sector by 7.01% and has been on a consecutive gain for the last two days, accumulating a total return of 8.84% during this period. It opened with a gap up of 2.91% and reached an intraday high of Rs 48.85, indicating positive momentum. Furthermore, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bullish trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 52.38% against the 5-day average, which may indicate some caution among investors.
In the broader market context, the stock has outperformed the Sensex over the past week, with a return of 4.35% compared to the benchmark's 1.59%. Over the past month, Manoj Jewellers has also shown a positive return of 5.49%, again surpassing the Sensex's 1.50%. This strong relative performance suggests that the stock is gaining traction among investors despite the recent drop in delivery volume. Overall, while the stock is rising, the decrease in investor participation could be a factor to monitor moving forward.