Why is Axis Bank falling/rising?

As of 09-Sep, Axis Bank Ltd. is experiencing a decline in its stock price, currently at 1,052.85, which reflects a decrease of 4.6 or 0.44%. The stock has underperformed its sector by 0.5% today and has fallen after two consecutive days of gains. It has traded within a narrow range of Rs 8.8 and is currently below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 63.72% against the 5-day average. Over the past year, the stock has generated a return of -10.06%, while its profits have increased by 4.2%, indicating a disconnect between stock performance and underlying profitability.
In the broader market context, Axis Bank's recent performance contrasts with the Sensex, which has gained 1.18% over the past week and 1.56% over the past month. This underperformance is compounded by the stock's negative returns over various periods, including a -1.46% year-to-date return. While the bank boasts strong lending practices and a low Gross NPA ratio of 1.57%, concerns about its profitability, as indicated by the high percentage of non-operating income relative to profit before tax, have contributed to its declining stock price. The stock's attractive valuation compared to peers may not be sufficient to offset the negative sentiment stemming from its recent performance and broader market trends.