Why is Sonal Mercantile falling/rising?

As of 18-Nov, Sonal Mercantile Ltd's stock price is rising, currently at Rs 103.00, reflecting an increase of Rs 12.78 or 14.17%. The stock has shown strong performance today, outperforming its sector by 14.95% and has gained consecutively over the last two days, resulting in a total return of 27.78% during this period. It opened with a gain of 5.3% and reached an intraday high of Rs 103. The stock is trading above its moving averages across various time frames, indicating a positive trend. However, there has been a significant drop in investor participation, with delivery volume falling by 90.02% compared to the five-day average, which could be a concern for future momentum.
In the broader market context, Sonal Mercantile's short-term return of 9.31% over the past week significantly outpaces the Sensex's return of 0.96% during the same period. While the stock has performed well recently, it still shows a year-to-date decline of 11.59%, contrasting with the Sensex's gain of 8.36%. This suggests that despite the recent positive movements, the stock has struggled over a longer timeframe compared to the benchmark. The high volatility observed today, with an intraday volatility of 7.57%, further indicates that the stock is experiencing significant price fluctuations, which could impact investor sentiment moving forward.