Why is Nuvama Wealth falling/rising?

As of 28-Aug, Nuvama Wealth Management Ltd's stock price is currently at Rs 6,554.10, reflecting a decline of Rs 183.75 or 2.73%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total drop of 6.1% during this period. Additionally, the stock's performance today has underperformed its sector by 1.66%. In terms of returns, the stock has decreased by 5.13% over the past week and 9.83% over the past month, while it has shown a year-to-date decline of 5.37%. Despite these short-term challenges, the company has demonstrated strong long-term fundamentals, with an average Return on Equity (ROE) of 28.26% and significant growth in net sales and operating profit.
Broader market context indicates that the Sensex has also faced declines, with a 2.34% drop over the past week and a 1.00% decline over the past month. However, Nuvama's performance has been notably worse than the benchmark in the short term. The falling investor participation, evidenced by a 34.75% drop in delivery volume compared to the five-day average, suggests a lack of confidence among investors, contributing to the stock's downward trend. Despite the company's positive financial results over the last seven quarters, the recent price movements indicate that market sentiment may be overshadowing these strengths in the short term.