Why is Purple Entertain falling/rising?

As of 23-Oct, Purple Entertainment Ltd's stock price is currently at Rs. 5.98, reflecting an increase of Rs. 0.99, which is a 19.84% rise. The stock has recently hit a new 52-week high and has outperformed its sector by 19.54%. Over the past two days, it has gained a total of 37.16%, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there has been a significant decline in investor participation, with delivery volume dropping by 98.74% compared to the 5-day average, indicating a potential concern regarding sustained interest in the stock. Unfortunately, the Positive and Negative Dashboard data is not available to provide further insights into the factors influencing the stock's movement.
In the broader market context, Purple Entertainment's short-term performance has been notably strong, with a 33.18% increase over the past week, significantly outpacing the Sensex, which only rose by 1.30% during the same period. Over the last month, the stock has gained 44.79%, again outperforming the benchmark's 2.99% increase. Year-to-date, the stock has shown a modest gain of 9.93%, compared to the Sensex's 8.21%. However, it is important to note that over longer periods, such as three and five years, the stock has underperformed relative to the benchmark, which may influence investor sentiment moving forward.