Why is Manoj Jewellers falling/rising?

As of 02-Jul, Manoj Jewellers Ltd is experiencing a price increase, currently at Rs 54.83, which reflects a rise of Rs 3.83 or 7.51%. The stock has shown strong performance today, outperforming its sector by 7.21% and has gained 7.59% over the last two days. It opened with a significant gain of 4.9% and reached an intraday high of Rs 55, just 1.33% away from its 52-week high of Rs 55.56. However, there has been a notable decline in investor participation, with delivery volume dropping by 87.9% compared to the 5-day average, which may indicate a potential concern regarding sustained interest in the stock.
In the broader market context, the stock's performance over the past week shows a slight decline of 0.31%, while the Sensex has increased by 0.79%. Over the past month, Manoj Jewellers has outperformed the benchmark with a return of 16.66% compared to the Sensex's 2.50%. This indicates that while the stock is currently rising, its short-term performance relative to the benchmark has been mixed, suggesting that the recent gains may not be fully supported by broader market trends.