Why is Evoq Remedies falling/rising?

As of 29-Aug, Evoq Remedies Ltd is currently priced at 3.07, reflecting a decrease of 0.03 or 0.97%. The stock has been on a downward trend, having underperformed its sector by 1% today and experiencing consecutive losses over the last seven days, resulting in a significant decline of 22.86% during this period. Additionally, the stock has shown poor performance over various time frames, with a year-to-date decline of 60.64% and a staggering 76.38% drop over the last three years. The stock is trading below its moving averages across all time frames, indicating a bearish trend. Although there has been a notable increase in investor participation, with delivery volume rising by 103.13% against the five-day average, the overall sentiment remains negative, and no specific positive or negative factors were provided to explain the stock's recent movement.
In the broader market context, Evoq Remedies' performance has been significantly worse than the benchmark, the Sensex, which has shown a slight gain of 2.14% year-to-date. Over the past week, Evoq Remedies has declined by 10.50%, while the Sensex has only fallen by 1.84%. This stark contrast highlights the stock's underperformance relative to the market, further contributing to the negative sentiment surrounding it. The liquidity of the stock appears adequate for trading, but the persistent decline and underperformance against the benchmark suggest that investor confidence is waning.