Why is Mastek falling/rising?

As of 08-Jul, Mastek Ltd's stock price is currently at 2,567.65, reflecting an increase of 3.85 (0.15%). The stock has been gaining momentum, having risen 6.27% over the last three days, which is indicative of a positive trend. It is performing well relative to its moving averages, being higher than the 5-day, 20-day, 50-day, and 100-day averages, although it remains below the 200-day average. Additionally, the stock has shown a significant increase in investor participation, with delivery volume rising by 37.95% compared to the 5-day average. Despite a year-to-date decline of 13.69%, the company has demonstrated strong fundamentals, including a high return on equity (ROE) of 19.54% and a healthy growth rate in net sales of 26.39% annually, which supports its valuation and attractiveness to investors.
In the broader market context, Mastek's short-term performance of +5.77% over the past week significantly outpaces the Sensex, which has only increased by 0.02% in the same period. This indicates that Mastek is gaining traction relative to the overall market. Furthermore, the increasing participation of institutional investors, who have raised their stake by 1.18% in the last quarter, suggests a growing confidence in the company's prospects. This institutional backing, combined with the company's solid financial metrics and recent positive price movements, contributes to a favorable outlook for Mastek in the current market environment.