Why is Signet Industrie falling/rising?

As of 17-Oct, Signet Industries Ltd is experiencing a price increase, currently at Rs 61.48, reflecting a rise of Rs 1.59 or 2.65%. The stock has shown strong performance recently, gaining for six consecutive days and achieving a total return of 17.19% during this period. It has outperformed its sector by 2.99% today, with an intraday high of Rs 61.9. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Notably, investor participation has increased, with delivery volume rising by 68.96% compared to the 5-day average, suggesting heightened interest in the stock.
In the broader market context, Signet Industries has significantly outperformed the Sensex over the past week, with a return of 14.25% compared to the benchmark's 1.76%. Over the last month, the stock has also shown a strong return of 11.14%, while the Sensex only gained 1.52%. However, it is important to note that the stock is down 14.37% year-to-date, contrasting with the Sensex's positive return of 7.44%. This divergence highlights the stock's recent recovery amidst a challenging year, driven by increased trading activity and investor confidence.