Why is Hexaware Tech. falling/rising?

As of 16-Sep, Hexaware Technologies Ltd is currently priced at 758.70, reflecting a decrease of 5.9 points or 0.77%. The stock has underperformed its sector by 1.61% today and has experienced a trend reversal, falling after two consecutive days of gains. Additionally, the stock's delivery volume has decreased by 12.95% compared to the five-day average, indicating a decline in investor participation. While the stock has shown a positive return of 5.99% over the past month, it has not performed as well as the benchmark Sensex, which increased by 2.21% during the same period. The company has a low debt-to-equity ratio and reported strong financial results in June, but it also faces challenges with an expensive valuation reflected in its price-to-book ratio of 8.6.
Broader Market Context: In the short term, Hexaware's performance has lagged behind the Sensex, which has risen by 1.58% over the past week, while Hexaware only gained 0.22%. This underperformance in the context of a rising market may contribute to the stock's recent decline. The broader market appears to be buoyant, as indicated by the Sensex's positive returns, contrasting with Hexaware's struggles to maintain momentum despite its solid financial fundamentals. The combination of falling investor interest and a trend reversal suggests that market sentiment may be shifting away from Hexaware, even as it continues to show potential for growth based on its financial health.