Why is Bajaj Auto falling/rising?

As of 30-Jul, Bajaj Auto Ltd. is experiencing a decline in its stock price, currently at 8,053.65, reflecting a decrease of 66.35 points or 0.82%. The stock has shown a negative trend, falling after two consecutive days of gains. It is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 42.15% compared to the 5-day average. Over the past year, the stock has decreased by 15.97%, while its year-to-date performance shows a decline of 8.50%, contrasting with the benchmark Sensex, which has gained 4.28% during the same period.
In the broader market context, Bajaj Auto's recent performance has been weaker than the benchmark, as it has underperformed the Sensex over both the past week and month. Despite this, the company maintains strong long-term fundamentals, evidenced by an average Return on Equity (ROE) of 21.99% and healthy growth rates in net sales and operating profit. The high institutional holdings at 22.39% suggest that knowledgeable investors are backing the company, which could provide some stability. However, the current market sentiment and declining trading volumes indicate that investors may be cautious, contributing to the stock's recent downward movement.