Why is HCL Technologies falling/rising?

As of 24-Jul, HCL Technologies Ltd is experiencing a decline in its stock price, currently at 1,506.95, reflecting a decrease of 22.45 points or 1.47%. The stock has been trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the delivery volume has decreased by 17.12% against the 5-day average, suggesting falling investor participation. Over the past week, the stock has dropped by 2.41%, and it has shown a significant year-to-date decline of 21.45%, contrasting with the Sensex's gain of 5.18%. Despite these challenges, the company maintains strong long-term fundamentals, with a healthy average return on equity of 22.22% and a high dividend yield of 4.71%, which may provide some support for the stock.
In the broader market context, HCL Technologies' recent performance is notably weaker compared to the benchmark, as it has underperformed the Sensex in both the short-term and year-to-date metrics. While the Sensex has seen a modest gain of 0.16% over the past month, HCL Technologies has faced a substantial decline of 10.91%. This underperformance may be attributed to the stock trading at a premium compared to its peers, despite its attractive valuation metrics. The high institutional holdings at 34.63% indicate that knowledgeable investors are backing the company, yet the recent price movements reflect a cautious sentiment in the market, overshadowing its long-term growth potential.