Why is Rex Pipes&Cables falling/rising?

As of 24-Jul, Rex Pipes & Cables Industries Ltd is experiencing a price increase, currently at Rs. 148.00, which reflects a rise of Rs. 3.35 or 2.32%. The stock has recently hit a new 52-week and all-time high of Rs. 151.85, indicating strong upward momentum. Additionally, the stock has outperformed its sector by 6.02% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The delivery volume has significantly increased by 225% compared to the 5-day average, suggesting rising investor participation. The stock has shown impressive returns over various periods, including a year-to-date increase of 102.19% compared to the Sensex's 5.99%.
In the broader market context, Rex Pipes & Cables has outperformed the Sensex over the past week, with a return of 9.23% against the benchmark's slight decline of 0.20%. This strong performance relative to the market indicates positive investor sentiment towards the stock, further supported by its substantial long-term gains, such as a 284.42% increase over the past three years. The liquidity of the stock is also favorable, allowing for trades of small sizes, which can attract more investors. Overall, the combination of strong stock performance, increased trading activity, and positive market sentiment contributes to the rising price of Rex Pipes & Cables Industries Ltd.