Why is Anik Industries falling/rising?

As of 24-Oct, Anik Industries Ltd is experiencing a decline in its stock price, currently at Rs 75.80, which represents a decrease of Rs 4.18 or 5.23%. The stock has underperformed its sector by 3.91% today, touching an intraday low of Rs 74.67, reflecting a drop of 6.64%. Additionally, the stock's performance over the past week shows a decline of 5.78%, while it has increased by 14.21% over the past month. However, year-to-date, the stock is down 34.23%, indicating significant challenges. The delivery volume has also fallen sharply by 59.63% compared to the five-day average, suggesting reduced investor participation, which may contribute to the stock's downward pressure.
In the broader market context, the Sensex has shown a slight increase of 0.31% over the past week, contrasting with Anik Industries' decline. This indicates that while the overall market is experiencing stability, Anik Industries is struggling significantly. The stock's moving averages indicate that it is performing better than the 20-day moving average but worse than the 5-day, 50-day, 100-day, and 200-day moving averages, further highlighting its recent struggles. Overall, the combination of falling investor participation and underperformance against both the sector and the benchmark suggests that Anik Industries is facing considerable headwinds in the current market environment.