Why is Haryana Leather falling/rising?

As of 06-Aug, Haryana Leather Chemicals Ltd is experiencing a price increase, with the current price at Rs 67.87, reflecting a rise of Rs 2.52 or 3.86%. Today, the stock has shown a positive performance by outperforming its sector by 3.77% and has gained after two consecutive days of decline. It opened with a significant gap up of 5.57% and reached an intraday high of Rs 68.99. However, despite this upward movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a longer-term downtrend. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 24.49% compared to the 5-day average, which may suggest a lack of sustained interest in the stock.
In the broader market context, Haryana Leather's short-term performance has been relatively weak compared to the benchmark, as it has declined by 5.22% over the past week, while the Sensex has only fallen by 1.15%. Over the past month, the stock has decreased by 5.74%, contrasting with the Sensex's decline of 3.46%. Year-to-date, Haryana Leather is down 21.12%, while the Sensex has gained 3.08%. This disparity highlights the stock's struggles in the current market environment, despite today's positive movement.