Why is Swiggy falling/rising?

As of 26-Aug, Swiggy Ltd's stock price is currently at 431.00, reflecting an increase of 5.6 (1.32%). The stock has shown a positive trend today, outperforming its sector by 1.82% and reversing a two-day decline. It reached an intraday high of Rs 439.25, indicating strong short-term momentum. Additionally, Swiggy's performance over the past week and month has been favorable, with returns of +5.22% and +5.69%, respectively, while the broader market, represented by the Sensex, has experienced declines. However, the stock's long-term outlook is clouded by significant operating losses and a negative EBITDA, which raises concerns about its fundamental strength. The high institutional holdings, which have increased by 7.74% over the previous quarter, suggest that informed investors are still optimistic despite the company's challenges.
In the broader market context, Swiggy's recent short-term performance contrasts sharply with the Sensex, which has declined by 1.05% over the past week and 0.83% over the past month. This indicates that Swiggy is gaining traction relative to the market, despite its year-to-date performance showing a decline of 20.27%. The liquidity of the stock remains adequate for trading, although there has been a notable drop in delivery volume, which may indicate a decrease in investor participation. Overall, while Swiggy's stock is experiencing a short-term rise, the underlying financial issues and market conditions present a complex picture for potential investors.