Why is IDBI Bank falling/rising?

As of 17-Jul, IDBI Bank Ltd. is experiencing a decline in its stock price, currently at 99.70, which reflects a decrease of 0.95 or 0.94%. Despite this recent downturn, the stock has shown strong performance over the past month, with a return of 7.77%, significantly outperforming the Sensex, which only increased by 0.83%. Today's price summary indicates that IDBI Bank is trading above its moving averages across various time frames, and there has been a notable rise in investor participation, with delivery volume increasing by 82.44% compared to the 5-day average. The bank's strong fundamentals, including a high Capital Adequacy Ratio of 18.29%, consistent profit growth, and positive quarterly results, suggest a solid long-term outlook, although the low domestic mutual fund ownership may indicate some caution among institutional investors.
In the broader market context, IDBI Bank's recent performance has been relatively stable compared to the benchmark, as it has outperformed the Sensex over the past week, where the Sensex declined by 1.12%. While the stock has faced a slight decrease today, its year-to-date return of 30.33% and consistent returns over the last three years highlight its resilience in a fluctuating market. The stock's fair valuation and high dividend yield further support its attractiveness, despite the current price drop. Overall, while short-term fluctuations are present, the underlying fundamentals and historical performance suggest a positive trajectory for IDBI Bank in the longer term.