Why is Cigniti Tech. falling/rising?

As of 26-Sep, Cigniti Technologies Ltd is experiencing a decline in its stock price, currently at Rs 1,457.80, which reflects a decrease of Rs 49.6 or 3.29%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 16.22% during this period. Today's performance shows that it underperformed its sector by 0.92%, and it touched an intraday low of Rs 1,455.25. The stock is trading below its moving averages across various time frames, indicating a bearish trend. Despite positive financial results over the last three quarters, including significant growth in profit after tax and net sales, the stock's recent performance has been negatively impacted by falling investor participation, with delivery volume dropping by 75.04% against the five-day average.
In the broader market context, Cigniti Technologies Ltd's short-term performance has been notably worse than the benchmark, with a one-week decline of 13.97% compared to the Sensex's drop of 2.66%. This stark contrast highlights the stock's struggles relative to the overall market. While the company has demonstrated high management efficiency and attractive valuations, these positive factors have not been sufficient to counteract the recent negative momentum in its stock price. The IT sector, in which Cigniti operates, has also faced a downturn, further contributing to the stock's challenges.