Why is ICICI Lombard falling/rising?

As of 03-Jul, ICICI Lombard General Insurance Company Ltd is experiencing a decline in its stock price, currently at 2,038.80, reflecting a decrease of 8.15 points or 0.4%. The stock has been losing value for the last two days, with a total drop of 0.93% during this period. Despite this recent downturn, the stock has shown strong performance over the longer term, with a 10.04% increase over the past year and a notable 78.52% rise over the last three years. However, the stock's delivery volume has decreased significantly, falling by 47.55% compared to the five-day average, indicating reduced investor participation. Additionally, while the company boasts strong long-term fundamentals with an average Return on Equity (ROE) of 16.56% and high institutional holdings at 41.52%, it faces challenges due to flat quarterly results and a high valuation compared to its peers.
In the broader market context, ICICI Lombard's recent performance contrasts with the benchmark Sensex, which has declined by 0.62% over the past week while the stock itself has gained 1.48%. This suggests that, despite the current price drop, ICICI Lombard has been outperforming the market in the short term. The stock's ability to maintain a higher trading position relative to its moving averages indicates underlying strength, but the recent decline in investor participation and the flat quarterly results may be contributing to the current downward pressure. Overall, while the stock has demonstrated resilience and strong long-term performance, the recent trends and market conditions are influencing its current price movement.