Why is Wipro falling/rising?

As of 04-Aug, Wipro Ltd. is experiencing a price increase, currently at 246.05, reflecting a change of 3.3 or 1.36% upward. Despite this uptick, the stock has underperformed its sector by 0.26% today and has been trading below its moving averages across various time frames. Over the past week, Wipro has seen a decline of 1.60%, and its performance over the past month shows a significant drop of 8.89%. However, the stock has gained after three consecutive days of decline, indicating a potential trend reversal. The company boasts a high dividend yield of 4.53% and has shown strong management efficiency with a return on equity (ROE) of 16.75%. Despite a recent negative performance, the company's profits have risen by 20.4% over the past year, suggesting a solid underlying financial health.
In the broader market context, Wipro's recent performance contrasts with the Sensex, which has shown a slight increase of 0.16% over the past week. While Wipro's year-to-date return is down 18.53%, the Sensex has gained 3.69% during the same period. This divergence highlights Wipro's struggles relative to the broader market. Additionally, the stock's liquidity remains adequate for trading, although there has been a decline in investor participation, with delivery volume falling by 13.31% against the five-day average. Overall, while Wipro's recent price increase may indicate a short-term recovery, its longer-term performance remains challenged compared to the benchmark and its historical returns.