Why is HCL Technologies falling/rising?

As of 09-Sep, HCL Technologies Ltd is experiencing a price increase, currently at 1,427.95, reflecting a rise of 25.55 (1.82%). Today's performance indicates a trend reversal as the stock has gained after three consecutive days of decline. Despite this uptick, it has underperformed its sector by 0.35%. The stock touched an intraday high of Rs 1431.7, and while it is trading lower than its moving averages across various time frames, there has been a notable increase in delivery volume, which rose by 47.46% against the five-day average. The company maintains strong long-term fundamentals, with a healthy return on equity (ROE) of 22.22% and a low debt-to-equity ratio, contributing to its attractive valuation despite a year-to-date decline of 25.56%.
In the broader market context, HCL Technologies' short-term performance has lagged behind the benchmark Sensex, which has gained 1.18% over the past week, while HCL Technologies has declined by 2.53%. This underperformance is notable given the IT sector's overall gain of 2.18%. However, the stock's high institutional holdings at 34.78% suggest that knowledgeable investors are confident in the company's long-term prospects, despite its recent struggles. The stock's high dividend yield of 4.27% may also attract investors looking for income, which could support its price in the face of broader market challenges.