Why is Bluechip Tex Ind falling/rising?

As of 12-Sep, Bluechip Tex Industries Ltd is experiencing a price increase, currently at Rs 144.70, which reflects a rise of Rs 3.75 or 2.66%. The stock opened with a gain of 2.41% today and reached an intraday high of Rs 145.75, indicating positive momentum. However, it also faced a low of Rs 136.1 during the day, suggesting volatility. The stock has underperformed in the longer term, with a year-to-date decline of 23.32% and a one-year drop of 29.81%, despite a positive performance of 0.31% over the past month. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 52.99% compared to the five-day average, which may indicate waning interest among investors.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has gained 1.48% over the past week and 2.08% over the past month. While Bluechip Tex Industries Ltd outperformed its sector by 3.24% today, its overall returns remain negative compared to the benchmark, particularly over the longer term. The stock's moving averages indicate it is performing better than the 5-day and 20-day averages but lags behind the 50-day, 100-day, and 200-day averages, further highlighting its struggles in the current market environment.