Why is Anik Industries falling/rising?

As of 17-Nov, Anik Industries Ltd is experiencing a decline in its stock price, currently at Rs 70.02, which represents a decrease of 3.89 (-5.26%). The stock has underperformed its sector by 5.59% today and has been on a consecutive downward trend for the last two days, resulting in an overall drop of 8.46% 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. Despite a significant increase in delivery volume, which rose by 304.55% against the 5-day average, the stock's year-to-date performance shows a substantial decline of 39.25%, reflecting ongoing challenges.
Broader Market Context: In comparison to the benchmark Sensex, which has gained 1.69% over the past week, Anik Industries has seen a decline of 5.58%. This stark contrast highlights the stock's underperformance relative to the broader market. Over the past month, while the Sensex has increased by 1.19%, Anik Industries has dropped by 12.96%, further emphasizing its struggles in the current market environment. The overall negative sentiment surrounding the stock, coupled with its significant underperformance against the benchmark, suggests that investor confidence may be waning.