Why is HCL Technologies falling/rising?

As of 31-Jul, HCL Technologies Ltd is experiencing a decline in its stock price, currently at 1,467.35, reflecting a decrease of 8.4 points or 0.57%. The stock has fallen after two consecutive days of gains, and it is trading 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 66.21% compared to the 5-day average. Over the past week, the stock has decreased by 2.63%, and it has seen a substantial decline of 14.60% over the past month, while its year-to-date performance shows a drop of 23.51%. Despite these challenges, the company maintains strong long-term fundamentals, with a healthy return on equity of 22.22% and a low debt-to-equity ratio, which could provide some support for the stock in the long run.
In the broader market context, HCL Technologies' short-term performance has underperformed compared to the Sensex, which has only declined by 1.22% over the past week. The stock's negative returns over the past month and year contrast sharply with the Sensex's positive year-to-date return of 3.90%. While the company has a high dividend yield of 4.07% and strong institutional holdings at 34.78%, these factors have not been sufficient to counteract the recent downward trend in stock price. The stock's premium valuation compared to peers and the relatively high PEG ratio of 7 suggest that investors may be cautious, leading to the current price decline despite the company's solid fundamentals.