Why is Sonal Mercantile falling/rising?

As of 17-Nov, Sonal Mercantile Ltd's stock price is currently at Rs 91.00, reflecting a rise of Rs 10.39 or 12.89%. Today's price movement indicates a trend reversal as the stock has gained after two consecutive days of decline. It opened with a gain of 2.85% and reached an intraday high of Rs 91.99, showcasing a significant performance today by outperforming its sector by 12.47%. Despite this positive movement, the stock has underperformed in the longer term, with year-to-date returns down by 21.89% compared to the Sensex's gain of 8.72%. Additionally, the stock is trading below its moving averages, which may indicate ongoing challenges. However, there has been a notable increase in investor participation, with delivery volume rising significantly, suggesting growing interest in the stock.
Broader market context shows that while Sonal Mercantile has experienced a short-term uptick, its performance over the past week and month has been negative, with declines of 7.14% and 6.86%, respectively, compared to the Sensex's positive returns of 1.69% and 1.19%. This contrast highlights the stock's volatility and the challenges it faces in the broader market environment. The high volatility observed today, with an intraday fluctuation of 5.19%, further underscores the stock's unpredictable nature. Overall, while there are signs of a potential recovery in the short term, the stock's longer-term performance remains concerning relative to the benchmark.