Why is Asian Paints falling/rising?

As of 16-Sep, Asian Paints Ltd. is experiencing a decline in its stock price, currently at 2,480.50, which reflects a decrease of 21.6 points or 0.86%. The stock has been losing value for the last three days, with a total drop of 3.07% during this period. In terms of performance against benchmarks, the stock has underperformed, showing a 1-week decline of 2.46% and a 1-month decline of 1.93%, while the Sensex has gained 1.58% and 2.21% respectively. Despite a strong long-term fundamental strength indicated by an average Return on Equity (ROE) of 24.35% and healthy net sales growth, the stock's recent movement is negatively impacted by falling investor participation, as evidenced by a 17.94% drop in delivery volume compared to the 5-day average.
Broader market context shows that while Asian Paints has a year-to-date return of 8.70%, it has significantly underperformed over the past year with a decline of 25.61%, contrasting sharply with the Sensex's slight decrease of 0.73%. The stock's liquidity remains adequate for trading, but the recent consecutive falls and lower short-term moving averages suggest a bearish sentiment among investors. Additionally, the high institutional holdings at 32.89% indicate that knowledgeable investors are still backing the stock, yet the recent decline in price may reflect broader market trends or sector-specific challenges that are affecting investor confidence.