Why is Punjab Natl.Bank falling/rising?

As of 15-Jul, Punjab National Bank's stock price is currently at Rs 112.20, reflecting an increase of Rs 1.35 or 1.22%. The stock has been on a positive trajectory, gaining for the last three consecutive days with a total return of 2.42% during this period. It has outperformed its sector by 0.67% today and reached an intraday high of Rs 113.2. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a slight decline in delivery volume, the stock's strong fundamentals, including a significant 118.20% CAGR growth in net profits and a low gross NPA of 3.95%, contribute positively to its recent performance.
In the broader market context, Punjab National Bank's short-term performance contrasts with the Sensex, which has declined by 1.36% over the past week while the bank's stock has increased by 0.18%. This indicates a relative strength in the bank's stock compared to the overall market. The company's robust financial results over the last nine quarters and high institutional holdings of 20.38% suggest confidence among investors, further supporting the stock's upward movement. Despite a year-over-year decline of 7.20% in stock price, the significant growth in profits and attractive valuation metrics indicate a favorable outlook for the bank, contributing to its rising stock price amidst a challenging market environment.