Why is Indiamart Inter. falling/rising?

As of 30-Jul, Indiamart Intermesh Ltd's stock price is currently at 2,581.40, reflecting a decrease of 2.9 points or 0.11%. Today's price performance is in line with the sector, and the stock is trading higher than its 5-day, 50-day, 100-day, and 200-day moving averages, although it is lower than the 20-day moving average. The stock has seen a rise in investor participation, with delivery volume increasing by 30.37% compared to the 5-day average. Over the past week, the stock has declined by 0.66%, and over the past month, it has decreased by 0.52%. Despite these short-term declines, the stock has shown a year-to-date increase of 14.77%, indicating strong performance in the longer term. The company boasts a high management efficiency with a return on equity (ROE) of 18.31%, a low debt-to-equity ratio, and has reported positive results for the last nine consecutive quarters, which may support its valuation despite the recent price drop.
In the broader market context, the Sensex has fallen by 1.50% over the past week and 2.54% over the past month, indicating that the overall market sentiment is negative. However, Indiamart's year-to-date performance significantly outpaces the Sensex's 4.28% increase, suggesting that the company has been able to maintain investor interest despite recent fluctuations. The high institutional holdings at 34.52% indicate confidence from more sophisticated investors, which may provide some stability to the stock amidst the broader market challenges. Overall, while Indiamart's stock is experiencing a slight decline in the short term, its strong fundamentals and positive long-term performance may mitigate concerns among investors.