Why is Nippon Life Ind. falling/rising?

As of 29-Oct, Nippon Life India Asset Management Ltd is experiencing a decline in its stock price, currently at 858.65, which reflects a decrease of 48.4 points or 5.34%. The stock has underperformed its sector by 5.4% today and has been on a downward trend for the past five days, accumulating a total loss of 11.25% in that period. It opened with a significant gap down of 6.7% and reached an intraday low of Rs 844.25. Despite having a strong long-term fundamental strength with an average Return on Equity (ROE) of 24.45% and healthy growth in operating profit, the stock's recent performance is hindered by a very expensive valuation and a high Price to Book Value ratio of 13. Additionally, falling investor participation, with a delivery volume decrease of 29.83% against the 5-day average, suggests waning interest among investors.
In the broader market context, the stock's short-term performance contrasts sharply with the benchmark Sensex, which has gained 0.68% over the past week. While Nippon Life India Asset Management has shown strong returns over the long term, including a 28.02% increase over the past year, its recent decline indicates a disconnect with the overall market trend. The company's high institutional holdings of 20.6% may provide some stability, but the current market sentiment appears to be negative, reflected in the stock's significant drop and the lack of liquidity, as evidenced by the trading volume being close to its low price.