Why is Axis Bank falling/rising?

As of 25-Aug, Axis Bank Ltd. is currently priced at 1,071.50, reflecting a slight increase of 1.1 (0.1%). The stock has shown a trend reversal by gaining after three consecutive days of decline, although it has traded within a narrow range of Rs 6.35. Despite this minor uptick, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 30.93% compared to the 5-day average. Over the past year, the stock has underperformed with a return of -8.09%, while its profits have only increased by 4.2%, resulting in a PEG ratio of 3.4. The company does have strong lending practices and a low Gross NPA ratio of 1.57%, alongside a robust long-term growth rate in net profits, but these positive factors are overshadowed by its recent performance and high non-operating income relative to profit before tax.
In the broader market context, Axis Bank's short-term performance has lagged behind the benchmark, with a 1-week return of -0.87% compared to the Sensex's gain of +0.45%. This underperformance is consistent with the stock's trend over the past month and year, where it has also fallen short of the benchmark indices. While the stock has strong institutional backing at 85.02%, indicating confidence from larger investors, the overall sentiment remains cautious due to its recent declines and the high level of non-operating income impacting profitability. Thus, despite some positive long-term fundamentals, the current market dynamics suggest a challenging environment for Axis Bank's stock price.