Why is Sudarshan Chem falling/rising?

As of 24-Jun, Sudarshan Chemical Industries Ltd is experiencing a decline in its stock price, currently at Rs 1,202.50, reflecting a decrease of Rs 38.55 or 3.11%. The stock has underperformed its sector today by 1.99% and has seen a trend reversal after two consecutive days of gains. It touched an intraday low of Rs 1,192.95, indicating a significant drop of 3.88%. Despite a strong performance over the past year with a return of 37.17%, the stock's recent movement is affected by a notable decrease in investor participation, with delivery volume falling by 55.01% compared to the five-day average. Additionally, while the stock remains above its longer-term moving averages, it is currently below the five-day moving average, suggesting a short-term weakness.
In the broader market context, the stock's one-week performance shows a decline of 3.34%, contrasting with the Sensex, which has gained 0.58% during the same period. This underperformance in the short term highlights a divergence from the overall market trend. However, it is important to note that Sudarshan Chemical has outperformed the BSE 500 over the last three years, one year, and three months, indicating strong long-term potential. With a market capitalization of Rs 9,751 crore, it is the largest company in its sector, contributing significantly to the industry, which may provide some resilience despite the current price decline.