Why is Swarnsarita Jewel falling/rising?

As of 17-Nov, Swarnsarita Jewels India Ltd is experiencing a price increase, currently at Rs 32.69, reflecting a rise of 1.79 or 5.79%. The stock has shown strong performance today, having outperformed its sector by 4.79% and has been on a consecutive gain for the last two days, accumulating a total return of 10.33% during this period. It opened with a significant gain of 7.15% and reached an intraday high of Rs 34.5, which is an increase of 11.65%. 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 risen, with delivery volume on 14 Nov increasing by 127.54% compared to the 5-day average, suggesting heightened interest in the stock.
In the broader market context, Swarnsarita Jewels has outperformed the Sensex in the short term, with a 1-week return of 8.50% compared to the Sensex's 1.69%. However, it is important to note that the stock has underperformed on a year-to-date basis, with a decline of 20.27% against the Sensex's gain of 8.72%. This contrast highlights a potential recovery phase for the stock, as recent positive movements may be attracting investor attention despite its longer-term struggles. Overall, the combination of strong short-term performance and increased trading activity suggests a favorable outlook for Swarnsarita Jewels in the current market environment.