Why is AksharChem (I) falling/rising?

As of 06-Nov, AksharChem (India) Ltd is experiencing a decline in its stock price, currently at Rs 252.50, which represents a decrease of Rs 10.75 or 4.08%. The stock has been underperforming, having fallen consecutively for the last five days, resulting in a total decline of 9.42% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The recent trading volume has also shown a significant drop, with delivery volume on 04 Nov falling by 76.68% compared to the 5-day average. The stock's performance over various periods has been negative, with a year-to-date decline of 16.36% and a one-year decline of 18.15%, further highlighting its struggles in the market.
In the broader market context, the Sensex has shown a more favorable performance, gaining 6.62% year-to-date and 3.65% over the past year, contrasting sharply with AksharChem's negative returns. Over the past week, while AksharChem has dropped by 8.84%, the Sensex has only decreased by 1.30%, indicating that the stock is underperforming relative to the benchmark. The Dyes & Pigments sector, in which AksharChem operates, has also seen a decline of 2.95%, contributing to the negative sentiment surrounding the stock. Overall, the combination of poor stock performance, declining investor participation, and unfavorable sector trends has led to the recent fall in AksharChem's stock price.