Why is Modern Threads falling/rising?

As of 10-Sep, Modern Threads (I) Ltd is experiencing a price increase, currently at Rs 57.99, which reflects a rise of 1.94 or 3.46%. Today's price summary indicates that the stock has outperformed its sector by 0.88% and has shown a trend reversal after two consecutive days of decline. Although the stock opened with a significant loss of 5%, it reached an intraday high of Rs 58, demonstrating resilience. Over the past week, the stock has gained 5.32%, and over the past month, it has risen by 20.66%, indicating strong short-term performance despite a year-over-year decline of 7.86%. The stock is currently trading above all major moving averages, which suggests a bullish trend. However, there has been a decline in investor participation, with delivery volume falling by 3.19% compared to the five-day average.
In the broader market context, Modern Threads has outperformed the Sensex, which has only gained 1.06% over the past week and 1.96% over the past month. This indicates that the stock's recent performance is significantly stronger than the overall market. The textile sector, in which Modern Threads operates, has also seen a gain of 2.44%, contributing positively to the stock's performance. Despite the recent volatility and a drop in trading volume, the stock's ability to recover and trade above its moving averages suggests a potential for continued upward movement in the near term.