Why is Asian Paints falling/rising?

As of 14-Aug, Asian Paints Ltd. is experiencing a price increase, currently at 2,529.25, reflecting a rise of 28.95 or 1.16%. The stock has shown positive momentum, gaining 2.04% over the last two days and outperforming its sector by 0.53% today. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there is a notable decline in investor participation, with delivery volume dropping by 60.51% compared to the 5-day average. Despite this, the company maintains strong long-term fundamentals, with an average Return on Equity (ROE) of 24.35% and a healthy growth rate in net sales of 13.44% annually. Additionally, high institutional holdings at 32.89%, which have increased by 5.08% over the previous quarter, suggest confidence from more knowledgeable investors.
In the broader market context, Asian Paints has outperformed the benchmark Sensex in the short term, with a 1-week return of +0.92% compared to the benchmark's -0.03%. Over the past month, the stock has also shown a significant advantage, rising by 5.34% while the Sensex fell by 2.01%. This indicates that despite some challenges, such as declining delivery volumes, the stock is gaining traction relative to the overall market, supported by its strong market position and institutional backing.