Why is Zee Entertainmen falling/rising?

As of 29-Jul, Zee Entertainment Enterprises Ltd is currently priced at 118.75, reflecting a slight increase of 0.15 (0.13%). The stock has shown a trend reversal by gaining after two consecutive days of decline. However, it has underperformed its sector by 0.58% today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 11.21%, and its performance over the last month shows a decline of 17.68%. Despite a significant drop in stock price, the company has seen a 63.9% increase in profits over the past year, which, combined with a low debt-to-equity ratio and high institutional holdings, suggests that the stock is trading at an attractive valuation compared to its peers.
In the broader market context, Zee Entertainment's recent performance contrasts sharply with the Sensex, which has only declined by 1.03% over the past week. This underperformance indicates that while the stock has potential due to its fundamentals, it is currently facing challenges in the market. The stock's liquidity remains adequate for trading, but a notable decrease in delivery volume suggests waning investor interest. The company's substantial market capitalization and significant share of the industry further highlight its importance, yet the overall negative return trends over various periods indicate that investors may be cautious amid broader market conditions.