Why is Arihant Capital falling/rising?

As of 24-Oct, Arihant Capital Markets Ltd is experiencing a decline in its stock price, currently at 100.10, which represents a decrease of 12.45 points or 11.06%. The stock has shown significant volatility today, with an intraday high of Rs 120.35 and a low of Rs 92.25, indicating a wide trading range of Rs 28.1. Despite hitting a new 52-week high earlier in the day, the stock underperformed its sector by 10.78%. Over the past month, the stock has decreased by 4.03%, while its year-to-date performance shows a modest increase of 1.83%. The delivery volume has notably increased by 784.47% against the 5-day average, suggesting rising investor participation, although the absence of specific positive or negative factors limits a deeper analysis of the stock's recent movements.
Broader market context indicates that while Arihant Capital's short-term performance has been negative, with a 1-week return of +0.40% compared to the Sensex's +0.31%, the stock's longer-term performance has been less favorable than the benchmark. Over the past year, Arihant Capital has declined by 9.29%, contrasting with the Sensex's gain of 5.18%. This underperformance in the longer term, combined with today's significant price drop and high volatility, suggests that investor sentiment may be cautious, leading to the current decline in stock price despite some positive trading activity.