Why is Persistent Sys falling/rising?

As of 21-Aug, Persistent Systems Ltd is experiencing a decline in its stock price, currently at 5,332.80, reflecting a decrease of 12.9 points or 0.24%. Today's performance indicates that the stock has underperformed its sector by 0.37% and has fallen after two consecutive days of gains. While the stock has shown a positive return of 0.75% over the past week, it has struggled in the longer term, with a 7.61% decline over the past month and a significant 17.57% drop year-to-date. Despite these challenges, the company has demonstrated strong long-term fundamentals, including a healthy average return on equity of 20.92%, consistent positive results over the last six quarters, and a low debt-to-equity ratio, which may support investor confidence.
In the broader market context, the Sensex has increased by 1.74% over the past week, contrasting with Persistent Systems' performance. This underperformance relative to the benchmark may contribute to the stock's current decline. Additionally, while the stock has shown consistent returns over the past three years, the recent trend reversal and the fact that it is trading below its 50-day, 100-day, and 200-day moving averages suggest a bearish sentiment among investors. However, the rising investor participation, indicated by a 30.17% increase in delivery volume, and high institutional holdings at 51.96% could provide some support for the stock in the long run.