Why is Galaxy Bearings falling/rising?

As of 23-Sep, Galaxy Bearings Ltd is experiencing a decline in its stock price, currently at Rs 870.00, reflecting a decrease of Rs 33.55 or 3.71%. The stock has underperformed its sector by 3.56% today and has been on a downward trend, losing 4.16% over the last two days. It opened with a loss of 2.36% and reached an intraday low of Rs 870. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Year-to-date, the stock has declined by 17.37%, and over the past year, it has fallen by 36.22%, while the benchmark Sensex has shown a modest gain of 5.07% during the same period. There is an increase in investor participation, with delivery volume rising by 42.63% against the 5-day average, suggesting some interest despite the price drop.
In the broader market context, Galaxy Bearings' short-term performance has been notably weaker than the benchmark, with a 1-week return of -3.75% compared to the Sensex's -0.34%. This underperformance highlights the stock's struggles in a market that has not been particularly volatile. The significant decline in the stock price, coupled with its consistent underperformance against the benchmark and sector, suggests that investor sentiment may be negatively impacted, despite the increase in trading volume. Overall, the combination of technical indicators and the stock's historical performance relative to the market contributes to the current downward trajectory.