Why is Pun. & Sind Bank falling/rising?

As of 01-Aug, Punjab & Sind Bank's stock price is currently at 28.67, reflecting a decrease of 0.51, or 1.75%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 3.47% in this period. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, delivery volume has decreased significantly, down by 36.9% compared to the 5-day average, suggesting a lack of investor interest. Despite strong long-term fundamentals, including a 24.77% CAGR growth in net profits and positive results over the last five quarters, the stock's valuation appears expensive with a Price to Book Value of 1.5, contributing to its recent price decline.
In the broader market context, Punjab & Sind Bank has underperformed significantly compared to the benchmark, with a one-year return of -56.75% against the BSE500's negative return of -4.13%. This stark contrast highlights the stock's struggles despite the overall market's relatively milder downturn. Furthermore, institutional investors have reduced their stakes, indicating a lack of confidence in the stock's future performance. The combination of falling investor participation, high valuation concerns, and substantial underperformance relative to the market has contributed to the stock's current downward trajectory.