Why is Nitin Castings falling/rising?

As of 08-Aug, Nitin Castings Ltd is currently priced at 653.50, reflecting an increase of 8.8 or 1.36%. The stock has shown a positive performance today, having outperformed its sector by 2.69% and gaining 5.87% over the last two days. Despite opening with a loss of 3.88%, it reached an intraday high of Rs 674, indicating some volatility within the trading session. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which is a positive indicator. However, there has been a notable decline in investor participation, with delivery volume dropping by 63.04% compared to the 5-day average, suggesting a potential concern regarding sustained interest in the stock.
In the broader market context, Nitin Castings has outperformed the Sensex over the past week, with a return of 2.36% compared to the benchmark's decline of 0.92%. Over the past month, the stock has also shown resilience, gaining 9.83% while the Sensex fell by 4.60%. However, year-to-date, Nitin Castings is down 5.97%, contrasting with the Sensex's gain of 2.20%. This mixed performance indicates that while the stock is experiencing short-term gains, it has struggled in the longer term compared to the broader market.