Why is Indiamart Inter. falling/rising?

As of 01-Sep, Indiamart Intermesh Ltd's stock price is currently at 2,605.00, reflecting an increase of 13.4 points or 0.52%. Despite this slight rise, the stock has shown mixed performance recently, having underperformed its sector by 0.75% today and opened with a loss of 2.76%. The stock has gained over the last two days, with a total return of 2.06%, but it also touched an intraday low of Rs 2,520. In terms of longer-term performance, the stock has had a year-to-date return of 15.82%, significantly outperforming the Sensex, which has only increased by 2.85%. The company has demonstrated strong fundamentals, including a high return on equity (ROE) of 18.31% and consistent positive results over the last nine quarters, which may contribute to investor confidence despite recent volatility.
Broader market context indicates that the stock's performance over the past week has been slightly negative at -0.71%, while the Sensex has declined by 1.56%. This suggests that Indiamart's stock is relatively resilient compared to the broader market. However, the falling investor participation, as indicated by a decrease in delivery volume, may signal caution among investors. The high institutional holdings at 34.52% could provide some stability, as these investors typically have better resources to analyze the company's fundamentals. Overall, while the stock has shown some positive movement, the mixed signals from recent performance and market conditions suggest a cautious outlook.