Why is Delhivery falling/rising?

As of 05-Sep, Delhivery Ltd's stock price is currently at Rs 468.10, reflecting a decrease of Rs 2.9 or 0.62%. The stock has underperformed its sector today by 0.85% and has experienced a consecutive decline over the last two days, resulting in a total drop of 2.24%. Despite a positive performance over the past month with a return of 2.17%, the stock has seen a decline of 0.26% over the past week. The company has reported strong financials, including a 77.25% growth in net profit and positive results for the last five consecutive quarters, which may support its valuation. However, the stock's recent performance is also impacted by falling investor participation, as evidenced by a 25.62% drop in delivery volume compared to the five-day average.
Broader Market Context: In comparison to the benchmark Sensex, which has gained 1.13% over the past week, Delhivery's recent performance has lagged behind, indicating a relative weakness in the stock. While the stock has outperformed the broader market over the past year with a return of 12.24% against the Sensex's decline of 1.81%, the current downward trend may reflect broader market sentiments or sector-specific challenges. The high institutional holdings at 82.54% suggest that knowledgeable investors are backing the company, but the recent price movement indicates that market dynamics may be influencing short-term trading behavior.