Why is CEAT falling/rising?

As of 01-Aug, CEAT Ltd's stock price is currently at Rs 3,227.90, reflecting a decrease of Rs 84.1 or 2.54%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 4.77%. In today's trading, it reached an intraday low of Rs 3,220, which is a 2.78% drop. Over the past week, CEAT has decreased by 4.53%, and in the last month, it has seen a significant decline of 11.84%. Despite a strong long-term growth outlook, with net sales and operating profit increasing annually, the stock has faced challenges, including a 32.9% drop in profits over the past year, which may be contributing to the recent price decline.
In the broader market context, CEAT's recent performance contrasts with the benchmark Sensex, which has only declined by 1.06% over the past week. The tyre and allied sector has also experienced a downturn, falling by 2.48%. Additionally, there has been a notable decrease in investor participation, with delivery volume dropping by 67.75% compared to the five-day average. While CEAT has high institutional holdings, which can provide some stability, the overall market conditions and recent profit declines may be influencing investor sentiment negatively, leading to the stock's current downward movement.