Why is Persistent Sys falling/rising?

As of 28-Aug, Persistent Systems Ltd's stock price is currently at 5,315.00, reflecting a decrease of 60.0 points or 1.12%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days, resulting in a total decline of 2.46% during this period. Despite outperforming its sector by 0.62% today, the stock's performance over the past week shows a slight decline of 0.33%. In terms of longer-term performance, the stock has seen a year-to-date decrease of 17.85%, although it has generated a positive return of 6.38% over the past year. The company's strong fundamentals, including a healthy long-term growth rate in net sales and operating profit, alongside a low debt-to-equity ratio, suggest underlying strength; however, the recent drop in investor participation and the stock's performance relative to moving averages indicate some short-term weakness.
In the broader market context, the stock's short-term performance has been relatively better than the benchmark Sensex, which has declined by 2.34% over the past week. This indicates that while Persistent Systems is facing some challenges, it is still managing to hold up better than the overall market. The high institutional holdings at 51.96% and their increased stake suggest confidence in the company's long-term prospects, which could provide some support against the recent price decline. However, the falling delivery volume and the stock's position below several moving averages may contribute to a cautious sentiment among investors, impacting its recent price movement.