Why is Le Merite Export falling/rising?

As of 08-Sep, Le Merite Exports Ltd is experiencing a decline in its stock price, currently at Rs 363.60, reflecting a decrease of Rs 3.4 or 0.93%. The stock has shown strong performance over the past month with a return of 12.83%, significantly outperforming the Sensex, which only increased by 1.68%. However, today's performance indicates a slight underperformance against its sector by 1.97%. Additionally, the stock is trading above its moving averages across various time frames, suggesting a generally positive trend. Despite this, there has been a notable drop in investor participation, with delivery volume decreasing by 16.67% compared to the 5-day average, which may be contributing to the current price decline.
Broader Market Context: In the short term, Le Merite Exports Ltd's performance over the past week shows a modest gain of 0.53%, while the Sensex has risen by 0.60%, indicating that the stock is closely tracking the broader market. Year-to-date, the stock has significantly outperformed the benchmark, with a return of 31.69% compared to the Sensex's 4.77%. This strong performance over a longer period, including a remarkable 75.95% increase over the past year, suggests that while the stock is currently facing a slight downturn, its overall trajectory remains positive in the context of broader market trends.