Why is Acknit Indus. falling/rising?

As of 12-Sep, Acknit Industries Ltd is experiencing a decline in its stock price, currently at Rs 290.10, reflecting a decrease of 1.05 (-0.36%). The stock has been on a downward trend, having lost value for the last three days, resulting in a total decline of 3.3% during this period. Although the stock reached an intraday high of Rs 298.95, it remains lower than its recent moving averages for the 5-day, 20-day, and 50-day periods, indicating a potential struggle in maintaining upward momentum. Additionally, there has been a notable drop in investor participation, with delivery volume decreasing by 24.83% compared to the 5-day average, which may further contribute to the stock's recent performance. The stock's year-to-date return stands at -4.89%, significantly underperforming the benchmark Sensex, which has gained 4.82% during the same timeframe.
In the broader market context, the stock's short-term performance has been unfavorable compared to the Sensex, which has risen by 1.48% over the past week while Acknit Industries Ltd has declined by 2.32%. This divergence highlights the stock's relative weakness in the current market environment. Furthermore, while the stock has shown impressive long-term returns over the past three and five years, the recent trends suggest a lack of momentum that may be affecting investor confidence. The overall market conditions appear to favor other investments, as evidenced by the Sensex's positive performance, which could be influencing the downward pressure on Acknit Industries Ltd's stock price.