Why is eClerx Services falling/rising?

As of 12-September, eClerx Services Ltd is experiencing a decline in its stock price, currently at Rs 4,432.70, which represents a decrease of Rs 59.2 or 1.32%. Despite this drop, the stock has shown strong performance over the past week, with a return of 3.22%, and an impressive 26.91% year-to-date increase. The stock is currently trading 4.65% below its 52-week high and has underperformed its sector by 0.93% today. Notably, eClerx Services has been trading above its moving averages across various time frames, indicating a generally positive trend prior to this decline. The company benefits from high management efficiency, a low debt-to-equity ratio, and significant institutional holdings, which have increased by 0.96% over the previous quarter. These factors contribute to a strong foundation, despite the recent price drop.
In the broader market context, eClerx Services has outperformed the Sensex over multiple periods, including a remarkable 59.11% return over the past year compared to the benchmark's decline of 1.28%. This indicates that while the stock is currently facing a short-term setback, its long-term performance remains robust relative to the market. The recent decline may be attributed to a trend reversal after three consecutive days of gains, suggesting a temporary correction rather than a fundamental weakness. Overall, while the stock is currently down, its historical performance and strong fundamentals suggest resilience in the face of market fluctuations.