Why is Persistent Sys falling/rising?

As of 08-Aug, Persistent Systems Ltd is experiencing a decline in its stock price, currently at 5,098.60, reflecting a decrease of 89.4 points or 1.72%. The stock has underperformed its sector today by 0.92%, and it is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past month, the stock has seen a significant drop of 11.93%, while year-to-date, it has decreased by 21.19%. Despite these short-term challenges, the company has demonstrated strong long-term fundamentals, with a healthy average Return on Equity (ROE) of 20.92% and consistent positive results over the last six quarters, including a notable growth in operating profit and net sales.
In the broader market context, the stock's performance over the past week shows a slight gain of 0.87%, contrasting with the Sensex, which has declined by 0.92%. This indicates that while Persistent Systems has managed to outperform the benchmark in the short term, its longer-term performance remains concerning, particularly with a year-to-date decline that is significantly worse than the Sensex's gain of 2.20%. The high institutional holdings at 51.96% suggest that informed investors are backing the company, which could provide some stability; however, the overall market sentiment appears to be weighing on the stock's price, contributing to its current downward trend.