Why is Canara Bank falling/rising?

As of 15-Jul, Canara Bank's stock price is rising, currently at 114.95, reflecting an increase of 1.25 or 1.1%. The stock has been gaining momentum, with a performance of 2.77% over the last two days and a 3.14% increase over the past month. It is currently trading close to its 52-week high, just 3.78% away from 119.3. The stock is outperforming its sector by 0.42% today and is trading above all key moving averages, indicating strong bullish sentiment. Additionally, the bank's strong fundamentals, highlighted by a low Gross NPA ratio of 2.94% and a significant 57.25% CAGR growth in net profits, contribute positively to investor confidence. The high dividend yield of 3.52% and substantial institutional holdings at 22.8% further support the stock's upward movement.
In the broader market context, Canara Bank's short-term return of 1.05% over the past week contrasts with the Sensex's decline of 1.36%, indicating that the stock is performing well relative to the overall market. While the bank's one-year return is slightly negative at -1.96%, its strong profit growth and attractive valuation metrics, such as a PEG ratio of 0.4, suggest that it is well-positioned for future gains. The rising investor participation, evidenced by a 50.22% increase in delivery volume, also reflects growing interest in the stock, further enhancing its positive outlook amidst a challenging market environment.