Why is Axis Bank falling/rising?

As of 12-Aug, Axis Bank Ltd. is experiencing a decline in its stock price, currently at 1,069.30, which reflects a decrease of 1.45 or 0.14%. The stock has traded in a narrow range of Rs 9.95 today and is underperforming against its moving averages across various time frames, indicating a bearish trend. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 22.62% compared to the 5-day average. Over the past year, the stock has generated a return of -8.15%, and despite a strong long-term fundamental strength with an 80.38% CAGR growth in net profits, the high Gross NPA ratio of 1.57% and low profit before tax have raised concerns among investors.
In the broader market context, Axis Bank's short-term performance of -0.12% over the past week is better than the Sensex, which has declined by 0.59%. However, the stock has underperformed the benchmark over the longer term, with a -8.90% return in the last month compared to the Sensex's -2.75%. While the bank has high institutional holdings at 85.02%, which typically indicates confidence in its fundamentals, the recent underperformance in both short-term and long-term returns, coupled with the significant reliance on non-operating income, suggests a cautious outlook among investors.