Why is Elixir Capital falling/rising?

As of 27-Oct, Elixir Capital Ltd's stock price is currently at 118.00, reflecting a decrease of 2.7, or 2.24%. The stock has been underperforming, having fallen for the last two days with a total decline of 5.22%. Today, it opened with a gain of 3.52% but experienced significant volatility, trading within a wide range of Rs 11.9, reaching a high of Rs 125 and a low of Rs 113.1. The stock's performance over the past week shows a decline of 3.08%, while it has gained 6.31% over the past month. However, year-to-date, the stock has plummeted by 65.01%, contrasting with a positive return of 8.50% for the benchmark. Notably, there has been a significant drop in investor participation, with delivery volume falling by 72.63% compared to the five-day average, which may indicate waning interest among investors.
Broader Market Context: In the context of the broader market, the Sensex has shown a positive return of 0.49% over the past week, while Elixir Capital has declined, highlighting its underperformance relative to the benchmark. The stock's year-to-date performance is particularly concerning, as it has significantly lagged behind the Sensex, which has gained 8.50%. This disparity suggests that while the overall market is experiencing growth, Elixir Capital is facing challenges that are impacting its stock price negatively. The combination of high volatility, declining investor participation, and poor short-term returns compared to the benchmark contributes to the stock's current downward trend.