Why is Axis Bank falling/rising?

As of 11-Aug, Axis Bank Ltd. is experiencing a price increase, currently at 1,070.75, reflecting a rise of 13.4 or 1.27%. Today's performance indicates that the stock has outperformed its sector by 0.48%. However, it is noteworthy that while the stock is higher than its 5-day moving averages, it remains below the 20-day, 50-day, 100-day, and 200-day moving averages. The stock has shown a modest return of +0.22% over the past week, contrasting with a decline of -8.78% over the past month. Despite a strong long-term fundamental strength indicated by an 80.38% CAGR growth in net profits, the stock's performance over the last year has been negative at -6.37%. Additionally, the gross NPA ratio stands at 1.57%, which is a concern, and there has been a significant drop in investor participation, with delivery volume falling by -25.55% against the 5-day average.
In the broader market context, Axis Bank's short-term return of +0.22% over the past week is notably better than the benchmark Sensex, which has declined by -0.51% during the same period. This suggests that while the stock is facing challenges, it is managing to hold its ground better than the overall market. However, the stock's long-term performance has been below par, underperforming the BSE500 over the last three years, one year, and three months. The high institutional holdings at 85.02% may provide some stability, as these investors typically have more resources to analyze the company's fundamentals. Nonetheless, the combination of high non-operating income as a percentage of profit before tax and the lowest profit before tax in the last quarter raises concerns about the sustainability of its recent price movements.