Why is Larsen & Toubro falling/rising?

As of 28-Jul, Larsen & Toubro Ltd. is experiencing a decline in its stock price, currently at 3,422.20, which reflects a decrease of 21.15 points or 0.61%. The stock has been on a downward trend, losing value for the last three days and showing a total return of -1.81% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. The stock has underperformed compared to the benchmark Sensex over various periods, with a 1-week return of -2.23% versus the Sensex's -1.59%, and a 1-month return of -6.98% compared to the Sensex's -3.77%. Despite positive financial indicators such as a high debtors turnover ratio and strong cash reserves, the stock's recent performance has been negatively impacted by falling investor participation, as evidenced by a 27.34% drop in delivery volume.
In the broader market context, while Larsen & Toubro's year-to-date performance shows a decline of 5.15%, the Sensex has gained 3.52% during the same period, highlighting a significant underperformance relative to the market. The stock's high institutional holdings at 63.05% suggest that knowledgeable investors are backing the company, yet the overall market sentiment appears to be weighing on its price. The company's substantial market capitalization and its dominance in the sector, constituting 38.85% of the industry, indicate its importance; however, the recent negative returns and declining trading activity may reflect broader market challenges or sector-specific issues that are affecting investor confidence.