Why is Gamco Ltd falling/rising?

As of 23-Oct, Gamco Ltd's stock price is currently at Rs 38.90, reflecting a decline of Rs 3.52 or 8.3%. The stock has underperformed its sector by 7.9% today, opening with a significant loss of 18.67% and reaching an intraday low of Rs 34.5. This decline follows a trend reversal after two consecutive days of gains. Additionally, the stock has shown poor performance over various periods, with a year-to-date return of -68.19% compared to a positive 8.21% for the Sensex. The stock is trading below all key moving averages, indicating a bearish trend, and there has been a decrease in investor participation, with delivery volume falling by 7.88% against the five-day average.
In the broader market context, Gamco Ltd's short-term performance has been notably weak, with a one-week return of -8.12% compared to a positive return of 1.30% for the Sensex. This stark contrast highlights the stock's struggles relative to the overall market. The high volatility observed today, with an intraday volatility of 8.94%, further emphasizes the uncertainty surrounding the stock. Overall, the combination of significant losses, poor relative performance, and declining investor interest contributes to the downward pressure on Gamco Ltd's stock price.