Why is Wipro falling/rising?

As of 13-Aug, Wipro Ltd. is experiencing a slight decline in its stock price, currently at 241.65, reflecting a change of -0.05 (-0.02%). The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite this, there has been a rise in investor participation, with a delivery volume of 36.89 lacs on 12 August, which is up by 3.03% compared to the 5-day average. Over the past week, Wipro has outperformed the Sensex with a return of +0.69%, although it has underperformed over the longer term, with a 1-month return of -6.36% compared to the Sensex's -2.38%. The company boasts a high dividend yield of 4.55% and has shown strong management efficiency with a high return on equity (ROE) of 16.75%, which may support its valuation despite recent price declines.
In the broader market context, Wipro's short-term performance has been relatively better than the benchmark, as indicated by its positive return over the past week. However, the stock has significantly underperformed year-to-date, with a decline of -19.98% compared to the Sensex's gain of +3.07%. This disparity highlights the challenges Wipro faces in the current market environment, despite its attractive valuation metrics and rising profits. The company's low debt-to-equity ratio and a PEG ratio of 0.9 suggest a solid financial foundation, yet the overall market sentiment and recent price movements indicate cautious investor sentiment towards the stock.