Why is Jio Financial falling/rising?

As of 06-Aug, Jio Financial Services Ltd's stock price is currently at Rs 326.50, reflecting a decline of Rs 6.3 or 1.89%. The stock has been underperforming recently, having fallen for the last two days with a total decrease of 2.11%. Today's performance indicates that it underperformed its sector by 1.63%, and it touched an intraday low of Rs 325.6. Despite a positive long-term outlook, with significant growth in operating profits and net sales, the recent price movement is influenced by a drop in investor participation, as evidenced by a 42.56% decrease in delivery volume compared to the 5-day average.
In the broader market context, Jio Financial's short-term performance shows a 1.97% increase over the past week, which contrasts with a 1.15% decline in the Sensex, indicating relative strength in the stock despite its recent fall. However, over the last month, Jio Financial has only gained 0.46%, while the Sensex has decreased by 3.46%, suggesting that the stock is holding up better than the market overall. The high institutional holdings at 27.17% may provide some stability, as these investors typically have greater resources to analyze the company's fundamentals, which could support the stock in the long term despite current volatility.