Why is Kalyan Jewellers falling/rising?

As of 31-Jul, Kalyan Jewellers India Ltd is currently priced at 594.35, reflecting a decrease of 10.2 points or 1.69%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 1.7%. It opened today with a loss of 2.55% and reached an intraday low of Rs 589.15. The stock's performance over the past week shows a decline of 3.09%, while it has gained 4.26% over the past month. Despite these short-term challenges, the company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 30.76% and operating profit at 31.95%. Additionally, the company has reported positive results for the last eight consecutive quarters, which may provide some support for the stock despite its recent price drop.
In the broader market context, Kalyan Jewellers has underperformed the Sensex, which has seen a decline of 1.22% over the past week compared to the stock's 3.09% drop. The stock's liquidity remains adequate, but there has been a significant decrease in investor participation, with delivery volume falling by 67.03% against the five-day average. While the stock has shown consistent returns over the last three years and has high institutional holdings, the recent price movements indicate a struggle in the short term, likely influenced by broader market conditions and reduced trading activity.