Why is Life Insurance falling/rising?

As of 28-Aug, Life Insurance Corporation of India is experiencing a decline in its stock price, currently at Rs 869.35, which reflects a decrease of Rs 18.8 or 2.12%. The stock has underperformed its sector by 1.05% today and has been on a downward trend for the last two days, accumulating a total loss of 2.77%. Over the past week, the stock has decreased by 2.92%, and year-to-date, it has fallen by 2.52%. Despite its higher performance relative to the 200-day moving average, it remains below the 5-day, 20-day, 50-day, and 100-day moving averages. The stock's low debt-to-equity ratio and attractive valuation, indicated by a return on equity of 38 and a PEG ratio of 0.7, suggest some underlying strength, but the significant drop in stock price over the past year, down 19.86%, indicates ongoing challenges.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has underperformed the Sensex, which has seen a decline of only 2.34% over the same week. While the stock's liquidity appears sufficient for trading, the overall sentiment remains negative, particularly given the substantial year-over-year loss compared to the Sensex's modest decline of 2.08%. The company, being the largest in its sector with a market cap of Rs 5,61,691 crore, constitutes a significant portion of the industry, yet its recent performance reflects investor caution amid broader market conditions.