Why is Reliance Industr falling/rising?

As of 01-Jul, Reliance Industries Ltd is experiencing a price increase, currently at 1,528.30, reflecting a rise of 27.65 or 1.84%. The stock has shown strong performance today, outperforming its sector by 0.55% and reaching an intraday high of Rs 1,531.2. Over the past week, the stock has gained 5.40%, and in the last month, it has risen by 7.57%. Despite a slight decline of 2.04% over the past year, the company demonstrates a solid ability to service debt with a low Debt to EBITDA ratio of 1.01 times and a healthy long-term growth rate in net sales of 10.11%. High institutional holdings at 38.62% suggest confidence from knowledgeable investors, which may support the stock's upward movement.
In the broader market context, Reliance Industries has outperformed the Sensex, which has only increased by 2.00% over the past week and 2.76% over the past month. The stock's performance is further bolstered by its strong market position, constituting nearly 70% of its sector, and its fair valuation compared to peers. However, there is a noted decline in investor participation, with delivery volume falling by 25.29% against the 5-day average, which could be a concern for future price stability. Overall, the combination of strong fundamentals and positive market sentiment appears to be driving the stock's recent rise.