Why is Polycab India falling/rising?

As of 07-Jul, Polycab India Ltd is currently priced at 6,692.85, reflecting a decrease of 9.7 points or 0.14%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days, resulting in a total decline of 1.52%. Despite this recent drop, Polycab India has outperformed its sector by 1.16% today and has shown positive returns over the past week and month, with increases of 2.30% and 9.57%, respectively. The company boasts strong long-term fundamentals, including a low debt-to-equity ratio and impressive growth in net sales and operating profit, which contribute to its overall stability and attractiveness to investors.
In the broader market context, Polycab India's recent performance contrasts with the Sensex, which has seen a slight decline of 0.20% over the past week. While the stock has underperformed year-to-date with a decrease of 7.96%, it has significantly outperformed the benchmark over longer periods, such as a 197.72% increase over three years compared to the Sensex's 54.01%. The stock's liquidity is also favorable, with a delivery volume increase of 54.14% against the five-day average, indicating rising investor participation. However, the recent price drop may reflect short-term market fluctuations rather than a fundamental weakness, as the company maintains strong institutional holdings and a dominant position in its sector.