Why is Persistent Sys falling/rising?

As of 04-September, Persistent Systems Ltd's stock price is currently at 5,297.20, reflecting a decrease of 79.5 points or 1.48%. The stock has been underperforming, having fallen for three consecutive days with a total decline of 2.25%. Today's performance shows that it has underperformed its sector by 0.85%. Over the past week, the stock has decreased by 0.33%, while it has shown a modest increase of 2.34% over the past month. Despite the company's strong long-term fundamentals, including a healthy growth rate in net sales and operating profit, the recent decline in delivery volume by 24.93% against the 5-day average indicates a drop in investor participation, which may be contributing to the stock's downward movement.
In the broader market context, the Sensex has increased by 0.80% over the past week, contrasting with Persistent Systems' short-term decline. While the stock has demonstrated consistent returns over the last three years, outperforming the BSE500, its year-to-date performance shows a significant drop of 18.12% compared to the Sensex's gain of 3.30%. The high institutional holdings at 51.96% suggest that knowledgeable investors are still confident in the company's fundamentals, which could provide some support. However, the recent price movements and declining investor participation may reflect a cautious sentiment among retail investors, impacting the stock's current performance negatively.