Why is Multi Comm. Exc. falling/rising?

As of 04-Jul, Multi Commodity Exchange of India Ltd is experiencing a decline in its stock price, currently at Rs 8,875.20, which reflects a decrease of Rs 127.05 or 1.41%. The stock has underperformed its sector today by 1.54%, touching an intraday low of Rs 8,822, which is 2% lower than its previous close. Despite this short-term decline, the stock has shown strong performance over longer periods, with a 1-month return of 28.78% and a remarkable 125.54% increase over the past year. The company has demonstrated solid fundamentals, with a long-term average Return on Equity (ROE) of 14.36%, and has reported positive results for the last five consecutive quarters, contributing to its overall strong growth trajectory.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by 0.74% over the past week. While the stock has outperformed the benchmark in the long term, with significant returns over 1 year and 3 years, the current drop may be influenced by falling investor participation, as indicated by a 7.15% decrease in delivery volume compared to the 5-day average. Additionally, the stock's high valuation, with a Price to Book Value of 24, may be causing some caution among investors despite its strong growth metrics and high institutional holdings at 79.91%.