Why is JM Financial falling/rising?

As of 17-Sep, JM Financial Ltd is currently priced at 175.45, reflecting a decrease of 2.55, or 1.43%. The stock has underperformed its sector today, with a consecutive decline over the last two days resulting in a total drop of 2.77%. It reached an intraday low of Rs 174.2, indicating a negative trend. Over the past week, the stock has decreased by 0.57%, and in the last month, it has fallen by 5.65%. Despite a strong year-to-date return of 35.48%, the stock's recent performance is concerning, particularly as profits have declined by 12.5% over the past year, even though it has declared positive results after two negative quarters. High institutional holdings at 24.22% suggest that informed investors are backing the stock, but the falling delivery volume indicates reduced retail interest.
Broader market context shows that while JM Financial has performed well over the longer term, it has struggled in the short term compared to the benchmark Sensex, which has gained 1.56% over the past week and 2.60% over the past month. This underperformance may be contributing to the stock's decline, as investor sentiment appears to be shifting. The stock's current trading is above its longer-term moving averages but below its shorter-term averages, suggesting mixed signals in market momentum. Overall, the combination of recent profit declines, reduced investor participation, and underperformance relative to the benchmark is likely influencing the stock's downward movement.