Why is Bajaj Auto falling/rising?

As of 01-October, Bajaj Auto Ltd. is experiencing a decline in its stock price, currently at 8,638.15, which reflects a decrease of 37.7 points or 0.43%. The stock has been losing value for the last two days, with a total drop of 0.95% during this period. In the past week, Bajaj Auto has underperformed with a return of -2.16%, while the benchmark Sensex has only fallen by 0.90%. Additionally, the stock's performance over the past year shows a significant decline of 29.11%, contrasting with the Sensex's minor drop of 3.90%. Despite having strong long-term fundamentals, including a solid average Return on Equity (ROE) of 21.03% and healthy growth in net sales and operating profit, the stock's recent performance has been negatively impacted by a 5.2% fall in profits over the past year.
In the broader market context, Bajaj Auto's recent price movement indicates a struggle against both sector performance and investor sentiment. The stock's delivery volume has decreased by 24.27% compared to its five-day average, suggesting a decline in investor participation. While the stock is trading above its 100-day and 200-day moving averages, it remains below its shorter-term moving averages, indicating mixed signals. The company's high institutional holdings at 22.39% may provide some stability, but the overall market sentiment and the stock's significant year-to-date decline of 1.86% compared to the Sensex's gain of 3.64% highlight the challenges it faces in regaining investor confidence.