Why is Wipro falling/rising?

As of 01-Aug, Wipro Ltd. is experiencing a decline in its stock price, currently at Rs 242.80, which reflects a decrease of Rs 5.5 or 2.22%. The stock has been underperforming, having fallen consecutively for the last three days with a total decline of 3.59% during this period. It is trading below all key moving averages, indicating a bearish trend. Additionally, the stock's performance over the past week and month shows a decline of 6.38% and 8.19%, respectively, while it has underperformed the sector by 0.62% today. Despite a high dividend yield of 4.43%, the stock's delivery volume has decreased significantly, suggesting falling investor participation.
In the broader market context, Wipro's short-term performance contrasts sharply with the Sensex, which has only declined by 1.06% over the past week. While Wipro's year-to-date return is down by 19.60%, the Sensex has gained 3.15% in the same period. This significant underperformance may be attributed to the stock trading at a premium compared to its peers and the recent drop in delivery volumes, indicating reduced investor interest. Despite the company showing high management efficiency and attractive valuations, these factors have not been sufficient to counteract the negative sentiment reflected in the stock's recent price movements.