Why is Arihant's Secur. falling/rising?

As of 09-Sep, Arihants Securities Ltd is currently priced at 23.69, reflecting an increase of 0.17 or 0.72%. The stock has shown a trend reversal, gaining after three consecutive days of decline. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend in the short term. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 42.18% compared to the 5-day average. Over the past year, the stock has decreased by 12.23%, while it has seen a notable decline of 27.60% year-to-date, contrasting with a positive return of 3.79% for the benchmark.
In the broader market context, the stock's recent performance has been underwhelming compared to the Sensex, which has gained 1.18% over the past week and 1.56% over the past month. While Arihants Securities has shown a positive return of 6.33% over the last month, its year-to-date performance remains significantly negative. The stark contrast between the stock's performance and the benchmark's returns suggests that investor sentiment may be cautious, particularly given the falling delivery volumes and the stock's position below key moving averages.