Why is Mercantile Vent. falling/rising?

As of 22-Sep, Mercantile Ventures Ltd's stock price is currently at Rs 31.15, reflecting a decline of Rs 1.04 or 3.23%. The stock has underperformed its sector today by 3.65%, following a trend reversal after two consecutive days of gains. It touched an intraday low of Rs 31.11, indicating a downward movement. Despite this decline, the stock has shown strong performance over the past month with a return of 15.20% and a year-to-date increase of 35.38%. Positive factors contributing to its resilience include higher net sales and profit after tax reported in June, alongside a majority ownership by promoters, which can instill investor confidence.
Broader market context reveals that while the stock has faced a short-term decline, it has outperformed the broader market, which has seen negative returns of -3.80% over the past year. In the last week, Mercantile Ventures Ltd has returned 0.29%, slightly lagging behind the Sensex's 0.46% gain. The stock's liquidity remains adequate for trading, and there has been a notable increase in investor participation, with delivery volume rising significantly. This suggests that while the stock is currently experiencing a downturn, its overall performance and investor interest remain relatively strong compared to the broader market.