Why is Wipro falling/rising?

As of 18-Aug, Wipro Ltd. is currently priced at 245.15, reflecting a decline of 1.6 points or 0.65%. The stock's performance today is in line with the sector, although it is trading below its 20-day, 50-day, 100-day, and 200-day moving averages, indicating a weaker trend in the medium to long term. Despite a recent increase in investor participation, with delivery volume rising by 67.4% against the 5-day average, the stock has experienced a significant decline of 8.15% over the past month and a year-to-date drop of 18.82%. However, it maintains a high dividend yield of 4.45% and shows strong management efficiency with a return on equity (ROE) of 16.75%, which suggests that while the stock is underperforming in the short term, it has solid fundamentals.
In the broader market context, Wipro's short-term return of +1.43% over the past week outperforms the benchmark Sensex, which has only gained 0.83% in the same period. However, the stock's longer-term performance is concerning, as it has underperformed the Sensex year-to-date and over the past year. The company’s attractive valuation, with a price-to-book ratio of 3.1 and a PEG ratio of 1, indicates that it is trading at a premium compared to its peers, which may be a factor in its current price movement. Overall, while Wipro has some positive attributes, its recent price decline reflects broader market pressures and investor sentiment.