Why is Punjab Natl.Bank falling/rising?

As of 01-Jul, Punjab National Bank's stock price is rising, currently at Rs 113.05, reflecting an increase of Rs 2.55 or 2.31%. The stock has shown strong performance recently, gaining 9.81% over the last eight days and outperforming its sector by 1.59% today. It has also consistently traded above its moving averages across various time frames, indicating positive momentum. The company has demonstrated robust long-term growth, with a compound annual growth rate (CAGR) of 118.20% in net profits and has reported positive results for the last nine consecutive quarters. Despite a one-year return of -7.64%, the stock's fundamentals remain strong, supported by low gross and net non-performing assets (NPAs) and high institutional holdings at 20.38%.
In the broader market context, Punjab National Bank's short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 2.00% over the past week. The stock's year-to-date return of 10.02% also exceeds the Sensex's 7.11%, highlighting its relative strength in the current market environment. However, it is important to note that the stock has underperformed the market over the last year, which may create some caution among investors. Overall, the combination of strong recent performance, positive financial indicators, and rising investor participation contributes to the stock's upward movement.