Why is SBI Life Insuran falling/rising?

As of 06-Oct, SBI Life Insurance Company Ltd is experiencing a decline in its stock price, currently at 1,770.80, which reflects a decrease of 14.3 points or 0.8%. The stock has underperformed its sector by 2.01% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 1.64%. Over the past week, the stock has decreased by 1.01%, and in the last month, it has fallen by 2.07%. Although the stock has shown strong long-term performance with a year-to-date increase of 27.09%, it has generated a negative return of 1.61% over the past year. The stock is currently trading above its 200-day moving average but below its shorter-term moving averages, indicating mixed momentum. Additionally, there has been a significant drop in investor participation, with delivery volume decreasing by 64.99% compared to the five-day average.
In the broader market context, the Sensex has increased by 1.77% over the past week and 1.34% over the past month, contrasting with SBI Life's negative returns during the same periods. This suggests that the stock is not only underperforming its sector but also lagging behind the overall market. Despite its low debt-to-equity ratio and strong long-term fundamentals, including a return on equity of 13.9% and a PEG ratio of 3.2, the stock's current valuation is at a premium compared to its peers. High institutional holdings at 40.58% indicate confidence from larger investors, yet the recent decline in stock price may reflect broader market sentiments or specific concerns regarding the company's short-term performance.