Why is Canara Bank falling/rising?

As of 17-Jul, Canara Bank's stock price is currently at Rs 115.50, reflecting a decrease of Rs 1.5 or 1.28%. Despite this decline, the stock has shown positive performance over the past week, with a return of 2.80%, and a notable increase of 5.82% over the past month. The stock is currently trading close to its 52-week high, being only 3.29% away from Rs 119.3. However, it has underperformed its sector by 0.65% today and has experienced a trend reversal after three consecutive days of gains. The stock is trading above all its moving averages, indicating a generally positive trend, and has seen a significant rise in delivery volume, suggesting increased investor participation. Furthermore, the bank's strong fundamentals, including a low Gross NPA ratio of 2.94% and a robust growth in net profits, contribute to its attractiveness, despite the recent price drop.
In the broader market context, Canara Bank's recent performance contrasts with the benchmark Sensex, which has declined by 1.12% over the past week. While the stock has shown resilience with a year-to-date return of 15.33% compared to the Sensex's 5.27%, the recent price drop may reflect profit-taking after a period of gains. The high institutional holdings at 22.8% indicate confidence from larger investors, which can provide stability. However, the stock's slight decline today amidst strong long-term fundamentals and a high dividend yield suggests that market sentiment may be influenced by short-term fluctuations rather than a fundamental weakness in the company.