Why is Axis Bank falling/rising?

As of 26-Aug, Axis Bank Ltd. is experiencing a decline in its stock price, currently at 1,050.15, which reflects a decrease of 21.35 or 1.99%. The stock has underperformed its sector by 0.85% today, reaching an intraday low of Rs 1,048.05. Over the past week, Axis Bank has seen a return of -3.06%, and over the past month, it has decreased by 3.38%. 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 significant drop in investor participation, with delivery volume falling by 47.6% compared to the 5-day average. While the company has strong fundamentals, including a low Gross NPA ratio of 1.57% and an impressive 80.38% CAGR growth in net profits, these positive factors are overshadowed by recent performance issues and a high dependency on non-operating income.
In the broader market context, Axis Bank's short-term performance has been notably weaker than the benchmark, with a 1-week return of -3.06% compared to the Sensex's -1.05%. This underperformance is compounded by the stock's negative returns over the past year, where it has declined by 10.25%, while the Sensex has only dropped by 1.12%. The high institutional holdings at 85.02% suggest that these investors are closely monitoring the company's fundamentals, which may influence market sentiment. However, the stock's recent struggles, including a low profit before tax and high non-operating income, contribute to a perception of weakness, leading to a cautious outlook among investors.