Why is Wipro falling/rising?

As of 29-Aug, Wipro Ltd. is currently priced at 249.25, reflecting a decrease of 1.25, or 0.5%. The stock has been experiencing a downward trend, having lost 1.75% over the last three days. It is trading above its 20-day moving average but below its 5-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 56.81% compared to the 5-day average. Despite these challenges, Wipro boasts a high dividend yield of 4.39% and strong management efficiency, indicated by a return on equity (ROE) of 16.75%. The company has a low debt-to-equity ratio and an attractive valuation with a price-to-book ratio of 3.2, which may support its price in the long term.
In the broader market context, Wipro's short-term performance of +0.26% over the past week contrasts with the Sensex, which has declined by 1.84%. Over the past month, Wipro has underperformed slightly, with a return of -1.03% compared to the Sensex's -1.88%. Although the stock has generated a negative return of -7.45% over the past year, its profits have increased by 20.4%, suggesting underlying strength despite the price decline. The stock's premium valuation relative to its peers and the majority ownership by promoters may provide some stability, but the recent price movement indicates a cautious sentiment among investors.