Why is Kalyan Jewellers falling/rising?

As of 12-Jun, Kalyan Jewellers India Ltd is experiencing a decline in its stock price, currently at Rs 518.55, which reflects a decrease of Rs 16.7 or 3.12%. The stock has been underperforming, having lost 7.93% over the last four days, and today it touched an intraday low of Rs 517.1. In terms of returns, the stock has shown a negative performance of 6.49% over the past week and 3.62% over the past month, while it has significantly underperformed the sector by 0.74% today. Despite these short-term declines, the company has demonstrated healthy long-term growth with a net sales increase of 38.07% in the latest six months and consistent positive results over the last eight quarters, which may provide some support for the stock in the future.
In the broader market context, the Sensex has shown a slight increase of 0.31% over the past week, contrasting with Kalyan Jewellers' negative performance. This indicates that the stock is not only declining in isolation but is also underperforming relative to the overall market. The diamond and gold jewellery sector has also faced a decline of 2.38%, contributing to the stock's downward pressure. However, the stock has a strong institutional holding of 28.85%, which suggests that there is confidence in its long-term prospects despite recent price movements. Overall, while Kalyan Jewellers has shown impressive returns over the past year and three years, the recent short-term trends and sector performance are influencing its current price decline.