Why is Eighty Jewellers falling/rising?

As of 24-Sep, Eighty Jewellers Ltd is experiencing a decline in its stock price, currently at Rs 31.00, which represents a decrease of Rs 2.8 or 8.28%. Today's trading performance indicates that the stock has underperformed its sector by 7.65%. It opened with a gain of 2.01% but quickly fell to an intraday low of Rs 31, reflecting high volatility with an intraday fluctuation of 5.31%. Over the past week, the stock has shown a slight increase of 5.08%, but it has significantly underperformed over longer periods, with a year-to-date decline of 33.97% and a one-year drop of 39.22%. The stock is currently trading below all its moving averages, indicating a bearish trend, although there has been a rise in investor participation with an 11.11% increase in delivery volume.
In the broader market context, the Sensex has shown a positive return of 4.58% year-to-date, contrasting sharply with Eighty Jewellers' significant decline. While the stock has gained in the short term compared to the benchmark over the past week, its overall performance remains weak, particularly when looking at longer time frames where it has underperformed the Sensex by a considerable margin. This disparity suggests that broader market conditions are not favoring Eighty Jewellers, contributing to its falling stock price amidst a generally improving market.