Why is Wipro falling/rising?

As of 06-Aug, Wipro Ltd. is experiencing a decline in its stock price, currently at 240.00, which reflects a decrease of 5.9 or 2.4%. The stock has underperformed its sector by 1.11% today and has been on a consecutive downward trend for the last two days, with a total drop of 2.46%. It has also touched an intraday low of Rs 239.4. Over the past week, Wipro's stock has fallen by 4.06%, and it has shown a significant decline of 20.53% year-to-date, contrasting sharply with the Sensex's positive return of 3.08% during the same period. Despite a high dividend yield of 4.48% and rising investor participation, the stock is trading below all its moving averages, indicating a bearish trend. The company has reported a low debt-to-equity ratio and a high return on equity, but these positive factors are overshadowed by poor long-term growth and recent flat results.
In the broader market context, Wipro's short-term performance has been notably weaker than the benchmark, with a 1-week decline of 4.06% compared to the Sensex's drop of only 1.15%. This consistent underperformance against the benchmark over the last three years, coupled with a lack of significant growth in operating profit, has contributed to investor sentiment turning negative. The stock's recent results, including the lowest operating profit to net sales ratio, further exacerbate concerns about its future growth potential. Overall, while there are some attractive valuation metrics, the prevailing trends and performance indicators suggest that Wipro's stock is facing challenges that are leading to its current decline.