Why is Kajaria Ceramics falling/rising?

As of 02-Sep, Kajaria Ceramics Ltd. is experiencing a decline in its stock price, currently at Rs 1,208.00, reflecting a decrease of Rs 19.35 or 1.58%. Today's price summary indicates that the stock opened significantly lower, down by 3.28%, and reached an intraday low of Rs 1,187.05. The stock has underperformed its sector by 1.3% today, and while it has a higher trading volume near its low price, it is trading below its 5-day and 20-day moving averages, despite being above the 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has declined by 2.05%, contrasting with a 2.15% gain over the past month, but it has seen a year-to-date increase of 4.18%. The company maintains a high management efficiency with a return on equity of 15.46%, a low debt-to-equity ratio, and significant institutional holdings at 39.95%, which may provide some support against the recent price drop.
In the broader market context, Kajaria Ceramics has underperformed the Sensex, which has seen a decline of 0.78% over the past week. The stock's recent performance contrasts with the benchmark, as it has not kept pace with the market's recovery trends. While the stock has shown resilience over a longer time frame, such as a 171.92% increase over the past five years compared to the Sensex's 105.08%, the current short-term trends suggest a cautious sentiment among investors. The liquidity of the stock remains adequate for trading, but the recent price movements indicate that investor confidence may be wavering, particularly in light of today's significant opening loss.