Why is Sumitomo Chemi. falling/rising?

As of 23-Sep, Sumitomo Chemical India Ltd is experiencing a decline in its stock price, currently at Rs 570.00, reflecting a decrease of Rs 13.4 or 2.3%. The stock has underperformed its sector by 1.74% today and has been on a downward trend for the last two days, accumulating a total loss of 4.93%. The stock touched an intraday low of Rs 563.6, indicating significant selling pressure. Additionally, the delivery volume has decreased by 41.2% compared to the five-day average, suggesting a drop in investor participation. While the company boasts a high return on equity and low debt-to-equity ratio, concerns about its long-term growth and high valuation relative to peers may be contributing to the recent price decline.
In the broader market context, the stock has outperformed the benchmark Sensex over the past week with a return of 2.84% compared to the Sensex's -0.34%. However, over the past month, Sumitomo Chemical has underperformed, with a decline of 4.61% against the Sensex's gain of 0.98%. Despite a positive year-to-date return of 6.54% versus the Sensex's 5.07%, the recent price movements and declining investor interest may indicate a cautious sentiment among investors, particularly in light of the company's modest growth rates and high valuation metrics.