Why is Hexaware Tech. falling/rising?

As of 29-Aug, Hexaware Technologies Ltd is experiencing a decline in its stock price, currently at Rs 755.55, which reflects a decrease of Rs 23.85 or 3.06%. The stock has underperformed its sector by 2.38% today and has been on a downward trend for the last three days, accumulating a total loss of 8.35% during this period. Additionally, the stock touched an intraday low of Rs 750.55, indicating significant selling pressure. In terms of returns, the stock has fallen by 5.14% over the past week, while it has shown a positive return of 5.82% over the past month. However, the delivery volume has decreased significantly, falling by 39.92% against the 5-day average, suggesting a decline in investor participation.
In the broader market context, the Sensex has decreased by 1.84% over the past week, indicating that the stock's short-term decline is more pronounced compared to the benchmark. Despite the company's strong financial performance in the last quarter, with record operating cash flow and net sales, the stock is perceived as having an expensive valuation with a Price to Book Value of 8.6. This, combined with a return on equity of 22 and stagnant returns over the past year, may be contributing to investor caution. Overall, while the company has solid fundamentals, the recent price movement reflects a combination of declining investor interest and a challenging market sentiment.