Why is Reliance Industr falling/rising?

As of 02-Jul, Reliance Industries Ltd is experiencing a decline in its stock price, currently at 1,518.25, which reflects a decrease of 10.05 points or 0.66%. Despite this drop, the stock has shown positive performance over the past week and month, with returns of 3.48% and 7.34%, respectively. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally strong trend. However, there has been a notable decrease in investor participation, with delivery volume falling by 3.57% compared to the 5-day average. The company's strong fundamentals, including a low Debt to EBITDA ratio of 1.01 times and healthy long-term growth in net sales, support its valuation, although it has generated a negative return of 3.06% over the past year.
In the broader market context, Reliance Industries' recent performance has outpaced the benchmark Sensex in the short term, with a 1-week return of 3.48% compared to the Sensex's 0.79%. This indicates that while the stock is currently facing a decline, it has been performing well relative to the market recently. The company's high institutional holdings at 38.62% suggest confidence from larger investors, who typically have better resources to analyze market conditions. Despite the current price drop, the overall market sentiment appears to be supportive of Reliance Industries due to its significant market capitalization and position within the sector.