Why is Max Financial falling/rising?

As of 23-Jun, Max Financial Services Ltd's stock is currently priced at 1,600.10, reflecting an increase of 3.3 points or 0.21%. The stock has shown a strong performance over the past year, generating a return of 61.88%, significantly outperforming the BSE 500 index. Despite a recent underperformance against its sector by -0.32% today, the stock has been on a positive trajectory, gaining for the last two days with a total return of 1.91%. It is also noteworthy that the stock is trading above all its moving averages, indicating a bullish trend. Furthermore, there has been a notable increase in investor participation, with delivery volume rising by 155.35% compared to the 5-day average, which suggests growing interest among investors.
In the broader market context, Max Financial's short-term return of +1.55% over the past week outpaces the Sensex's modest gain of +0.12%, indicating a strong relative performance. The stock's year-to-date return of +43.90% also highlights its robust growth compared to the Sensex's +4.81%. This performance is supported by the company's strong long-term fundamentals, including a 20.54% CAGR growth in net sales, which reinforces investor confidence. Overall, while the stock faced a gap down at the open today, its recent gains and strong fundamentals contribute to a positive outlook, despite some short-term volatility.