Why is Jio Financial falling/rising?

As of 22-Jul, Jio Financial Services Ltd is experiencing a decline in its stock price, currently at Rs 310.80, which reflects a decrease of Rs 6.5 or 2.05%. Today's performance indicates that the stock has underperformed its sector by 1.84%, with an intraday low of Rs 310, marking a drop of 2.3%. Over the past week, the stock has decreased by 3.24%, while it has shown a modest increase of 5.68% over the past month. Despite a strong long-term fundamental strength characterized by a 462.61% CAGR growth in operating profits and a significant annual growth rate of 600.50% in net sales, the stock's recent movement is affected by falling investor participation, as evidenced by a 3.19% decline in delivery volume compared to the 5-day average.
In the broader market context, Jio Financial's short-term performance has been notably weaker than the benchmark, with a 1-week decline of 3.24% compared to the Sensex's minor drop of 0.47%. This underperformance is compounded by the stock being lower than its 5-day and 20-day moving averages, despite being above the 50-day, 100-day, and 200-day moving averages. The high institutional holdings at 26.04% suggest that more sophisticated investors are backing the stock, which may provide some stability; however, the current liquidity indicates that the stock is still liquid enough for trading, with a value of Rs 11.8 crore based on 2% of the 5-day average traded value.