Why is ICICI Pru Life falling/rising?

As of 05-Jun, ICICI Prudential Life Insurance Company Ltd's stock price is currently at 637.45, reflecting a decrease of 5.4, or 0.84%. The stock has underperformed its sector today by 1.21%, with a notable decline in investor participation, as evidenced by a 62.46% drop in delivery volume compared to the 5-day average. While the stock has shown strong long-term fundamental strength with a 27.48% CAGR growth in net sales and positive quarterly results, it is currently in a mildly bearish technical range, having generated a -4% return since June 2, 2025. Additionally, the stock's valuation appears expensive with a Price to Book Value of 7.7, which may deter some investors.
In the broader market context, the stock has underperformed the Sensex in the short term, with a 1-week return of -4.60% compared to the benchmark's -0.23%. Although the stock has performed well over the past year with a return of 13.44%, it has lagged behind the Sensex's 9.49% return. The combination of a bearish technical trend, high valuation relative to peers, and declining investor interest suggests that the stock's recent price movement is influenced by both internal challenges and external market conditions.