Why is Blue Jet Health falling/rising?

As of 04-Aug, Blue Jet Healthcare Ltd is currently priced at Rs 786.65, reflecting a decrease of Rs 9.65 or 1.21%. The stock has underperformed its sector by 2.82% today and has experienced a consecutive decline over the last two days, totaling a drop of 2.4%. Although the stock opened with a gain of 2.05% and reached an intraday high of Rs 812.65, it has been trading lower than its 5-day, 20-day, 50-day, and 100-day moving averages, despite being above the 200-day moving average. The stock's performance over the past week shows a decline of 0.84%, while it has fallen 12.49% over the last month. Positive factors include strong long-term fundamentals, with a return on equity of 26.94% and significant growth in net sales and operating profit. However, the stock is considered expensive relative to its peers, and there has been a decrease in institutional investor participation, which may contribute to the recent price decline.
In the broader market context, the Sensex has shown a slight increase of 0.16% over the past week, contrasting with Blue Jet's short-term underperformance. While the stock has outperformed the market over the past year with a return of 55.77% compared to the Sensex's 0.05%, its recent struggles may reflect broader market trends and investor sentiment. The decline in institutional investor stakes and the stock's premium valuation compared to historical averages could be influencing market perceptions, leading to the current price movement.