Why is Kalyan Jewellers falling/rising?

As of 29-Sep, Kalyan Jewellers India Ltd's stock price is currently at Rs 448.95, reflecting a decrease of Rs 6.4 or 1.41%. The stock has been on a downward trend, having fallen consecutively for the last eight days, resulting in a total decline of 14.14% during this period. Additionally, the stock has underperformed its sector by 3.4% today and is trading below all key moving averages. In terms of returns, Kalyan Jewellers has experienced a significant decline of 41.44% year-to-date and 36.48% over the past year, while the benchmark Sensex has shown a modest increase of 2.85% year-to-date.
In the broader market context, Kalyan Jewellers' recent performance contrasts sharply with the Sensex, which has only declined by 2.18% over the past week. Despite the stock's struggles, the company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 29.84% and a net profit growth of 40.76%. The company has consistently reported positive results for nine consecutive quarters, and institutional holdings have increased, indicating confidence among larger investors. However, the current market sentiment appears to be negative, overshadowing these positive fundamentals and contributing to the stock's recent decline.