Why is Kalyan Jewellers falling/rising?

As of 25-Jul, Kalyan Jewellers India Ltd's stock price is currently at Rs 593.80, reflecting a decrease of Rs 19.5 or 3.18%. Today's performance indicates that the stock has underperformed its sector by 2.4%, following a trend reversal after four consecutive days of gains. The stock reached an intraday low of Rs 589.75, and trading volume was higher near this low price, suggesting increased selling pressure. Despite a positive long-term outlook with net sales and operating profit growth, the stock has experienced a year-to-date decline of 22.55%, although it has generated a 3.46% return over the past year, outperforming the BSE500 in the last three annual periods.
In the broader market context, Kalyan Jewellers' recent performance contrasts with the benchmark Sensex, which has shown a slight decline of 0.36% over the past week and a 1.56% drop over the past month. While the stock has demonstrated strong long-term growth potential, evidenced by healthy institutional holdings and consistent returns, the current price movement reflects short-term volatility and market sentiment that may be influenced by recent trading patterns and investor behavior. The liquidity of the stock remains adequate, indicating that while there may be short-term pressures, the fundamentals suggest a more stable long-term outlook.