Why is LTI Mindtree falling/rising?

As of 24-Jul, LTI Mindtree Ltd's stock price is currently at Rs 5,203.20, reflecting a decrease of Rs 94.9 or 1.79%. The stock has underperformed its sector by 0.28% today and has experienced a trend reversal after three consecutive days of gains. It reached an intraday low of Rs 5,191, marking a decline of 2.02%. Over the past week, the stock has shown a slight increase of 0.24%, but it has declined by 2.51% over the past month and 6.85% year-to-date. Despite strong long-term fundamentals, including a robust average Return on Equity (ROE) of 24.46% and significant growth in net sales and operating profit, the stock's recent performance has been negatively impacted by falling investor participation, as evidenced by a 21.68% drop in delivery volume compared to the five-day average.
In the broader market context, while the Sensex has seen a slight decline of 0.09% over the past week, LTI Mindtree's performance has been notably weaker, particularly in the longer term, where it has fallen 8.12% over the past year compared to a 2.54% increase in the Sensex. This underperformance may be attributed to the stock's movement being lower than several key moving averages, indicating a bearish trend. Additionally, the high institutional holdings at 22.82% suggest that while there is confidence in the company's fundamentals, the recent price movements reflect a cautious sentiment among investors, contributing to the stock's decline.