Why is PC Jeweller falling/rising?

As of 11-Jul, PC Jeweller Ltd's stock price is currently at Rs 17.35, reflecting a decrease of Rs 1.39 or 7.42%. Today's price summary indicates that the stock has underperformed its sector by 5.57% and has experienced a trend reversal after two consecutive days of gains. The stock touched an intraday low of Rs 17.01, showing significant volatility with an intraday fluctuation of 6.89%. Despite this decline, the stock has shown strong performance over the past week, month, year, and three years, with returns of 3.83%, 36.94%, 151.30%, and 395.71%, respectively. The company has reported positive financial results, including a 9.32% growth in net sales and a substantial increase in profits, which may support its valuation despite the recent price drop.
In the broader market context, while PC Jeweller has outperformed the Sensex over various periods, the stock's recent decline contrasts with its strong long-term performance. The Sensex has shown a slight decrease of 1.12% over the past week, while PC Jeweller's short-term return remains positive. However, the falling investor participation, as indicated by a 34.05% drop in delivery volume, could be contributing to the stock's current price decline. Overall, despite the recent downturn, the company's robust financial performance and historical returns suggest a potential for recovery in the longer term.