Why is Punjab Natl.Bank falling/rising?

As of 02-Jul, Punjab National Bank's stock price is currently at 113.85, reflecting an increase of 0.8, or 0.71%. The stock has been on a positive trajectory, gaining for the last nine consecutive days and achieving a total return of 10.59% during this period. It has outperformed its sector by 1.59% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has shown strong performance over the past week with a return of 7.46%, compared to the Sensex's 0.79% increase, and a year-to-date return of 10.80%, significantly higher than the Sensex's 6.75%. The company has demonstrated robust long-term fundamental strength, with a remarkable 118.20% compound annual growth rate (CAGR) in net profits and positive results for the last nine quarters, contributing to the stock's upward movement.
In the broader market context, Punjab National Bank's recent performance is notably strong compared to the benchmark, particularly in the short term, where it has outpaced the Sensex. The stock's liquidity is also favorable, with a delivery volume increase of 56.01% against the 5-day average, indicating rising investor participation. The high institutional holdings at 20.38% suggest confidence from larger investors, who typically have better resources for analyzing company fundamentals. Despite a one-year return of -5.64%, the company's profits have surged by 101.7%, and its attractive valuation metrics, including a PEG ratio of 0.1, further support the stock's positive momentum.