Why is Indiamart Inter. falling/rising?

As of 29-Jul, Indiamart Intermesh Ltd's stock price is currently at 2,584.30, reflecting an increase of 34.3 or 1.35%. The stock has shown a trend reversal, gaining after two consecutive days of decline. It has outperformed its sector by 1.54% today, and there has been a notable increase in investor participation, with delivery volume rising by 25.58% compared to the five-day average. Over the past week, the stock has increased by 1.34%, while it has experienced a decline of 0.98% over the past month. Despite a year-to-date gain of 14.90%, the stock has faced challenges over the past year, dropping 15.05%. The company's strong fundamentals, including a high return on equity of 18.31%, low debt-to-equity ratio, and consistent positive results over the last nine quarters, contribute positively to its recent price movement.
In the broader market context, the stock's performance contrasts with the Sensex, which has declined by 1.03% over the past week and 3.24% over the past month. While Indiamart's year-to-date performance is significantly better than the benchmark's 4.09% gain, its longer-term performance over three years shows a 21.48% increase compared to the Sensex's 41.28%. The high institutional holdings at 34.52% indicate that knowledgeable investors are backing the stock, which may provide additional stability and confidence in its future performance. Overall, the combination of positive company fundamentals and a recent uptick in trading activity suggests a favorable outlook for Indiamart Intermesh Ltd amidst a challenging market environment.