Why is Newgen Software falling/rising?

As of 02-Jul, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at 1,142.00, which reflects a decrease of 7.4 or 0.64%. The stock has underperformed its sector by 0.73% today and has been on a downward trend, falling for the last two days with a total return drop of 2.73%. Over the past week, the stock has decreased by 1.19%, and its performance over the last month shows a significant decline of 7.14%. Despite the company’s strong long-term fundamentals, including a low debt-to-equity ratio and consistent profitability, the recent price movement suggests a lack of investor confidence, as indicated by a 34.51% drop in delivery volume compared to the five-day average.
Broader market context indicates that while Newgen Software has struggled in the short term, the benchmark Sensex has gained 0.79% over the past week. The stock's year-to-date performance shows a substantial decline of 32.84%, contrasting sharply with the Sensex's increase of 6.75%. This divergence highlights the stock's recent challenges despite its historical performance, which includes a remarkable 554.63% increase over the past three years. The high institutional holdings at 28.48% may provide some stability, but the current market sentiment appears to be weighing heavily on the stock's price.