Why is JM Financial falling/rising?

As of 10-Sep, JM Financial Ltd is experiencing a decline in its stock price, currently at Rs 176.45, which reflects a decrease of Rs 14.1 or 7.4%. The stock has underperformed its sector today by 8.32% and has been on a downward trend for the last two days, accumulating a total return loss of 8.12%. The stock touched an intraday low of Rs 174.4, indicating high volatility with an intraday fluctuation of 6.01%. Despite a strong performance over the past year with a return of 41.22%, the stock's recent movement is influenced by a significant drop in delivery volume, which has decreased by 37.55% compared to the five-day average. While the company has reported positive results and maintains a low debt-equity ratio, its profits have fallen by 12.5%, which may be contributing to investor caution.
In the broader market context, JM Financial's short-term performance has been notably weaker than the benchmark, with a one-week return of -6.94% compared to the Sensex's gain of 1.06%. This underperformance in the short term contrasts with the stock's strong returns over longer periods, such as a 36.25% increase year-to-date and a 170.63% increase over three years. The high institutional holdings at 24.22% suggest that informed investors are closely monitoring the stock's fundamentals, which may influence market sentiment. Overall, the combination of recent negative performance, declining investor participation, and profit reductions has contributed to the stock's current downward trajectory.