Why is Le Merite Export falling/rising?

As of 23-Sep, Le Merite Exports Ltd's stock price is currently at 394.95, reflecting a decrease of 0.55, or 0.14%. Despite this slight decline, the stock has shown strong performance over various periods, with a 1-week return of 7.32% and a 1-month return of 11.32%. The stock is trading above its moving averages across multiple time frames, indicating a generally positive trend. However, there has been a notable drop in investor participation, with delivery volume falling by 70.33% compared to the 5-day average, which may be contributing to the current price movement. Additionally, the stock is close to its 52-week high, just 3.56% away from Rs 409.
In the broader market context, while Le Merite Exports has outperformed the Sensex by 0.48% today, the benchmark index itself has seen a slight decline of 0.28% over the past week. Year-to-date, Le Merite Exports has achieved a remarkable return of 43.05%, significantly outperforming the Sensex's 6.45% gain. This strong performance relative to the benchmark suggests that the stock has been resilient despite the recent minor decline, reflecting investor confidence in its long-term growth potential.