Why is JM Financial falling/rising?

As of 29-Sep, JM Financial Ltd is currently priced at 161.85, reflecting a decrease of 1.25, or 0.77%. The stock has been underperforming, having fallen for the last four consecutive days, resulting in a total decline of 6.2% during this period. Additionally, the stock's performance today has underperformed its sector by 1.44%. Despite a strong long-term performance with a 24.98% increase year-to-date and a 120.80% rise over three years, the stock has faced challenges recently, including a drop in delivery volume by 6.49% against the five-day average. While the company has shown positive results in June 2025 after two negative quarters, its profits have decreased by 12.5% over the past year, which may contribute to the current downward pressure on the stock.
In the broader market context, JM Financial's short-term performance has been notably weaker compared to the benchmark, with a 1-week return of -5.46% against the Sensex's -2.18%. This indicates that the stock is not only declining but doing so at a rate more severe than the overall market. While the stock has high institutional holdings at 24.22%, suggesting some level of confidence from larger investors, the recent consecutive declines and falling investor participation may be causing concern among retail investors. The stock's current trading at a premium compared to its peers, combined with a fair valuation and consistent returns over the last three years, suggests that while there are positive fundamentals, recent performance and market sentiment are driving the stock lower.