Why is Phoenix Mills falling/rising?

As of 31-Jul, Phoenix Mills Ltd. is currently priced at 1,486.85, reflecting a decline of 18.15 points or 1.21%. The stock has been underperforming, having fallen for the last four consecutive days, resulting in a total drop of 2.18% during this period. It has also touched an intraday low of Rs 1470, indicating significant selling pressure. In terms of returns, the stock has decreased by 4.01% over the past month and has a year-to-date decline of 9.06%. While the company has shown healthy long-term growth with net sales increasing at an annual rate of 21.47% and operating profit at 28.07%, it faces challenges such as a very expensive valuation and a return of -17.21% over the past year, which is significantly worse than the broader market's decline of -3.20%.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has shown a slight decline of 1.22% over the past week. The stock's underperformance is further highlighted by its trading below all key moving averages, indicating a bearish trend. Additionally, there has been a notable drop in investor participation, with delivery volume falling by 72.56% compared to the five-day average, suggesting a lack of confidence among investors. The high institutional holdings at 49% may provide some stability, but the overall sentiment remains negative due to flat results and declining profits, leading to a cautious outlook for Phoenix Mills.