Why is Punjab Natl.Bank falling/rising?

As of 08-Jul, Punjab National Bank's stock price is currently at 112.00, reflecting a decrease of 0.5, or 0.44%. The stock has experienced a trend reversal, falling after two consecutive days of gains. Despite this decline, it is noteworthy that the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend over a longer period. In terms of performance, the stock has shown a return of -0.93% over the past week, while it has gained 1.68% over the past month and 9.00% year-to-date. However, the delivery volume has decreased significantly by 36.88% compared to the 5-day average, suggesting a drop in investor participation. The company's strong fundamentals, including a 118.20% CAGR growth in net profits and positive results over the last nine quarters, support its long-term potential, but the recent price movement may reflect short-term profit-taking or reduced trading activity.
In the broader market context, Punjab National Bank's recent performance contrasts with the Sensex, which has seen a slight increase of 0.02% over the past week. While the bank's stock has underperformed the benchmark in the short term, it has outperformed it over the longer term, with a 9.00% gain year-to-date compared to the Sensex's 7.13%. The high institutional holdings at 20.38% indicate confidence from larger investors, which may provide some stability. However, the recent decline in delivery volume and the stock's inability to maintain upward momentum after previous gains could be contributing factors to its current price drop, despite the underlying strong fundamentals and attractive valuation compared to peers.