Why is Max Healthcare falling/rising?

As of 09-Jul, Max Healthcare Institute Ltd's stock price is currently at Rs 1,247.20, reflecting a decline of Rs 54.35 or 4.18%. Today's performance indicates that the stock has underperformed its sector by 3.83%, following a trend reversal after two consecutive days of gains. The stock reached an intraday low of Rs 1,245, and trading volume has decreased, with delivery volume falling by 12.67% compared to the five-day average. Despite this decline, the stock has shown strong performance over the past year, with a return of 35.57%, and has outperformed the BSE500 index consistently over the last three years. The company benefits from a low debt-to-equity ratio, healthy long-term growth in net sales and operating profit, and high institutional holdings, which provide a solid foundation for its valuation.
In the broader market context, the stock's short-term return over the past week is -3.14%, while the benchmark Sensex has gained 0.15%. This underperformance relative to the benchmark may be contributing to the stock's current decline. However, the stock has shown resilience with a year-to-date return of 10.62%, compared to the Sensex's 6.91%. The liquidity of the stock remains adequate for trading, which may help stabilize its price in the future. Overall, while the stock is experiencing a short-term decline, its strong fundamentals and historical performance suggest potential for recovery.