Why is Cigniti Tech. falling/rising?

As of 01-Jul, Cigniti Technologies Ltd is currently priced at 1,805.20, reflecting a decrease of 6.55 points or 0.36%. Today's price movement indicates a trend reversal, as the stock has fallen after five consecutive days of gains. Despite this decline, Cigniti Technologies has shown strong performance over the past week and month, with returns of 4.82% and 13.71%, respectively. The stock is trading above all its moving averages, indicating a generally positive trend. However, there has been a notable drop in investor participation, with delivery volume falling by 30.58% compared to the five-day average. The company's strong fundamentals, including a high return on equity (ROE) of 24.39% and consistent positive results over the last two quarters, support its valuation, although concerns about poor long-term growth due to a slower annual operating profit growth rate may be influencing current price movements.
In the broader market context, Cigniti Technologies has outperformed the benchmark Sensex in terms of returns over various periods, including a 31.69% return over the past year compared to the Sensex's 5.31%. This strong performance relative to the benchmark suggests that the stock has been favored by investors despite the recent decline. However, the overall market sentiment may be affecting investor confidence, as indicated by the falling delivery volumes. While the stock remains liquid and has high institutional holdings, the recent price drop could reflect a market correction after a period of strong gains, highlighting the balance between positive company fundamentals and broader market dynamics.