Why is Indiamart Inter. falling/rising?

As of 21-Jul, Indiamart Intermesh Ltd's stock price is currently at 2,599.80, reflecting a decrease of 53.6 points or 2.02%. The stock has underperformed its sector today by 1.52%, touching an intraday low of Rs 2,549.7, which represents a decline of 3.91%. Over the past week, the stock has seen a decline of 4.88%, while it has performed positively over the past month with a gain of 4.87%. Despite the recent downturn, the company has demonstrated strong fundamentals, including a high return on equity of 18.31%, a low debt-to-equity ratio, and consistent positive results over the last nine quarters, which may support its long-term value.
In the broader market context, the Sensex has remained relatively stable, with a slight decline of 0.06% over the past week. This indicates that the stock's short-term performance is not aligned with the benchmark, as it has significantly underperformed in the same timeframe. However, the stock has shown strong year-to-date growth of 15.59%, compared to the Sensex's 5.20%, suggesting that while it is facing short-term challenges, it has been resilient in the longer term. The falling investor participation, indicated by a 76.47% drop in delivery volume, may also be contributing to the recent price decline, despite the high institutional holdings that typically provide stability.