Why is Jio Financial falling/rising?

As of 20-Aug, Jio Financial Services Ltd is experiencing a decline in its stock price, currently at 328.85, which reflects a decrease of 2.4 points or 0.72%. The stock has fallen after two consecutive days of gains, indicating a potential trend reversal. Despite this recent drop, Jio Financial is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting overall positive momentum. Additionally, the stock has shown a 3.84% increase over the past month, although it has underperformed the Sensex in the past week with a decline of 0.50% compared to the benchmark's gain of 1.64%. The company also benefits from strong long-term fundamentals, with impressive growth rates in net sales and operating profits, alongside high institutional holdings that have increased by 1.13% over the previous quarter.
In the broader market context, Jio Financial's recent performance contrasts with the Sensex, which has outperformed the stock in the short term. While the stock has seen a positive return of 10.08% year-to-date, its one-year performance is slightly negative at -1.35%, indicating some volatility. The increase in delivery volume by 7.04% against the 5-day average suggests rising investor participation, which could be a positive sign for future performance. However, the current decline may reflect short-term profit-taking or market corrections, despite the company's strong fundamentals and institutional support, which typically provide a buffer against significant downturns.