Why is Bajaj Auto falling/rising?

As of 11-Jul, Bajaj Auto Ltd. is experiencing a decline in its stock price, currently at Rs 8,060.35, which represents a decrease of Rs 215.1 or 2.6%. The stock has underperformed its sector by 0.49% today and has been on a downward trend for the last two days, accumulating a total decline of 3.64%. Additionally, the stock has shown negative returns over the past week and month, with declines of 4.36% and 7.66%, respectively. Despite its strong long-term fundamentals, including a healthy return on equity and low debt-to-equity ratio, the recent price movement reflects broader challenges, including trading below all key moving averages and a sector-wide decline of 2.16% in the automobile two and three-wheeler segment.
In the broader market context, Bajaj Auto's short-term performance has significantly lagged behind the Sensex, which has only decreased by 1.12% over the past week. The stock's year-to-date performance is notably poor at -8.43%, contrasting sharply with the Sensex's gain of 5.58%. Although there has been a rise in investor participation, as indicated by a 52.9% increase in delivery volume, the overall market sentiment appears to be negative, contributing to the stock's recent decline.