Why is Max Estates falling/rising?

As of 23-Jul, Max Estates Ltd is experiencing a decline in its stock price, currently at Rs 540.60, which reflects a decrease of Rs 9.4 or 1.71%. Despite this drop, the stock has shown positive performance over the past week and month, with returns of +5.05% and +4.87%, respectively. However, it has underperformed today by 0.39% compared to its sector. The stock touched an intraday low of Rs 535.9, indicating a decline of 2.56%. Notably, Max Estates is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive trend. The company has also seen a significant increase in investor participation, with delivery volume rising by 1458.16% against the 5-day average. Additionally, the company has reported strong financial results, including a 47.32% growth in net sales and a remarkable 215.0% increase in profit after tax over the last quarter.
In the broader market context, while Max Estates has shown positive short-term returns, it has underperformed on a year-to-date basis, with a decline of 4.82% compared to the Sensex, which has gained 5.87%. This contrast highlights the stock's challenges in the longer term despite recent positive quarterly results and high institutional holdings at 33.73%. The overall market sentiment may be weighing on the stock, contributing to its current price decline.