Why is LTI Mindtree falling/rising?

As of 11-Jul, LTI Mindtree Ltd is experiencing a decline in its stock price, currently at 5,210.15, reflecting a decrease of 103.85 points or 1.95%. The stock has been on a downward trend, losing value for the last three days with a total decline of 2.83% during this period. It reached an intraday low of Rs 5,170.5, which is a drop of 2.7%. Over the past week, the stock has underperformed with a return of -1.83%, and over the last month, it has decreased by 3.55%. Despite its strong long-term fundamentals, including a healthy average return on equity (ROE) of 24.46% and consistent growth in net sales and operating profit, the stock is currently trading at a premium compared to its peers, which may be contributing to its recent price decline.
In the broader market context, the stock's performance is lagging behind the benchmark Sensex, which has only fallen by 1.12% over the past week. The IT sector, to which LTI Mindtree belongs, has also seen a decline of 2.17%, indicating sector-wide challenges. Additionally, there has been a notable decrease in investor participation, with delivery volume dropping by 10.78% compared to the five-day average, which may signal reduced interest among investors. While the company's institutional holdings are relatively high at 22.6%, suggesting confidence from larger investors, the overall market sentiment appears to be affecting the stock negatively in the short term.