Why is Sonal Mercantile falling/rising?

As of 17-Oct, Sonal Mercantile Ltd's stock price is currently at 95.35, reflecting an increase of 9.2, or 10.68%. Today, the stock opened with a significant gain of 10.27% and reached an intraday high of Rs 103.35, marking a rise of 19.97%. Despite this positive movement, the stock has been trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a longer-term downtrend. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 11859.83% against the 5-day average, suggesting heightened interest. However, the stock has shown high volatility today, with an intraday volatility of 5.75%, and it has underperformed against the benchmark indices over various periods, including a year-to-date decline of 18.15% compared to the Sensex's gain of 7.44%.
In the broader market context, while Sonal Mercantile's stock has outperformed its sector today by 10.72%, its recent performance over the past week and month has been negative, with declines of 5.59% and 4.65%, respectively, compared to the Sensex's positive returns. This indicates that, despite today's rise, the stock has struggled to maintain momentum in the face of broader market trends. The significant gap up at the open and the high volatility suggest that market sentiment may be shifting, but the overall longer-term performance remains concerning when compared to the benchmark.