Why is Indiamart Inter. falling/rising?

As of 16-Sep, Indiamart Intermesh Ltd's stock price is currently at 2,596.10, reflecting a decrease of 27.9 points or 1.06%. The stock has underperformed its sector by 1.9% today, despite trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has shown a modest gain of 0.53%, but it has underperformed the benchmark Sensex, which increased by 1.58%. Additionally, there has been a notable decline in investor participation, with delivery volume dropping by 31.4% compared to the 5-day average. On a positive note, the company has demonstrated strong management efficiency, with a high return on equity (ROE) of 18.31%, a low debt-to-equity ratio, and consistent positive results over the last nine quarters, including a significant growth in profit after tax.
In the broader market context, while Indiamart's year-to-date return stands at 15.42%, it has lagged behind the Sensex's return of 5.43% over the same period. The stock's performance over the past year has been negative at -16.58%, contrasting sharply with the Sensex's slight decline of 0.73%. This underperformance may be attributed to the recent drop in investor participation and the stock's inability to keep pace with the broader market's gains, despite its solid fundamentals and high institutional holdings, which suggest that larger investors have confidence in the company's long-term prospects.