Why is Nuvama Wealth falling/rising?

As of 28-Oct, Nuvama Wealth Management Ltd is experiencing a price increase, currently at 7,455.00, reflecting a rise of 32.65 or 0.44%. The stock has outperformed its sector by 0.7% today and has shown a consecutive gain over the last two days, with a total return of 3.98% during this period. Additionally, Nuvama Wealth is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. The company has demonstrated robust long-term fundamental strength, with a notable average Return on Equity (ROE) of 28.26%, and has reported positive results for the last seven consecutive quarters, contributing to its healthy growth trajectory.
In the broader market context, Nuvama's short-term return of 2.77% over the past week significantly outpaces the Sensex's return of 0.24%, showcasing its relative strength in the market. Over the past month, Nuvama has achieved a remarkable return of 21.82%, compared to the Sensex's 5.22%, further emphasizing its strong performance. The rising investor participation, evidenced by a 63.51% increase in delivery volume, also supports the stock's upward movement, indicating growing confidence among investors. Overall, these factors collectively contribute to the positive momentum in Nuvama Wealth Management Ltd's stock price.