Why is Shivam Chemicals falling/rising?

As of 11-Sep, Shivam Chemicals Ltd is experiencing a price increase, currently at Rs 61.20, reflecting a rise of Rs 3.7 or 6.43%. The stock has shown strong performance today, outperforming its sector by 6.57% and opening with a gain of 4.33%. It reached an intraday high of Rs 61.95, which is a 7.74% increase. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there has been a notable decline in investor participation, with delivery volume dropping by 54.55% compared to the 5-day average. The performance over the past week shows a gain of 6.62%, while the month-to-date performance is down by 2.08%.
In the broader market context, Shivam Chemicals has outperformed the Sensex over the past week, which only increased by 1.03%. Year-to-date, the stock has risen by 20.02%, significantly higher than the Sensex's 4.36% gain. Despite the recent positive price movement, the erratic trading pattern, with the stock not trading on 4 out of the last 20 days, may indicate underlying volatility. The lack of available positive and negative factors further complicates the understanding of the stock's recent movements, but the current upward trend suggests a favorable short-term sentiment among investors.