Why is Creative Newtech falling/rising?

As of 28-Aug, Creative Newtech Ltd's stock price is currently at 640.10, reflecting an increase of 9.5 or 1.51%. Today's performance indicates that the stock has outperformed its sector by 2.69%. However, it is important to note that while the stock is trading higher than its 20-day moving average, it remains below the 5-day, 50-day, 100-day, and 200-day moving averages. The stock has shown a negative return of -2.01% over the past month and -31.01% year-to-date, indicating a concerning trend despite healthy long-term growth in net sales and operating profit. The stock's valuation appears attractive with a return on equity of 18.1 and a price-to-book ratio of 3.3, yet the low participation from domestic mutual funds and flat results in the latest quarter raise concerns about investor confidence.
In the broader market context, Creative Newtech's short-term performance has been relatively better than the benchmark, as it has outperformed the Sensex by 1.39% over the past week, which declined by 2.32%. However, the stock's long-term performance remains below par, with a -19.57% return over the past year compared to the Sensex's -2.20%. This underperformance, coupled with a significant drop in delivery volume and low domestic mutual fund holdings, suggests that while there may be some positive indicators, the overall sentiment towards the stock remains cautious, contributing to its recent price movements.