Why is AksharChem (I) falling/rising?

As of 23-Jun, AksharChem (India) Ltd is experiencing a slight decline in its stock price, currently at 250.50, reflecting a decrease of 0.5, or 0.2%. The stock has underperformed its sector today by 0.38%. In terms of returns, the stock has shown a negative performance over various periods, including a 1-month decline of 5.61% and a year-to-date drop of 17.03%. Although the stock is trading higher than its 5-day, 50-day, and 100-day moving averages, it remains below its 20-day and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 106.85% compared to the 5-day average, indicating some interest despite the overall downward trend.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has shown positive returns of 0.12% over the past week and 4.81% year-to-date. This underperformance suggests that while the market may be gaining traction, AksharChem is struggling to keep pace. The lack of available positive or negative factors further complicates the understanding of the stock's movement, as no specific catalysts or concerns are identified to explain the recent price action. Overall, the combination of underperformance relative to the benchmark and mixed moving average signals contributes to the stock's current downward trajectory.