Why is Essar Shipping falling/rising?

As of 11-Nov, Essar Shipping Ltd's stock price is currently at Rs 32.99, reflecting a decline of Rs 1.25 or 3.65%. The stock has been underperforming recently, having fallen for the last two days with a total return of -8.46% during this period. Today's performance indicates that the stock has underperformed its sector by 5.94%. Additionally, the stock reached an intraday low of Rs 32.53, and trading volume has significantly decreased, with delivery volume dropping by 84.94% compared to the five-day average. Over the past week, the stock has declined by 8.69%, while its performance over the past month shows a gain of 10.11%. However, year-to-date returns are negative at -6.57%, and the stock has also underperformed the benchmark Sensex over the past year.
In the broader market context, the Sensex has shown a positive return of 0.49% over the past week and 1.66% over the past month, contrasting with Essar Shipping's negative short-term performance. While the shipping sector has gained by 2.42%, Essar Shipping's recent struggles highlight a disconnect between the company and its sector's overall performance. The stock's moving averages indicate that it is currently lower than the 5-day and 20-day moving averages, which could signal bearish sentiment among investors. Overall, the combination of declining investor participation and the stock's inability to capitalize on sector gains has contributed to its recent price decline.