Why is Hemang Resources falling/rising?

As of 15-Oct, Hemang Resources Ltd is experiencing a decline in its stock price, currently at Rs 21.31, which represents a decrease of 1.29 (-5.71%). The stock has been underperforming significantly, having fallen for three consecutive days with a total decline of 6.94% during this period. Today, it opened with a loss of 6.99% and reached an intraday low of Rs 21.02. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, investor participation has decreased, with delivery volume dropping by 48.48% compared to the 5-day average. The stock's year-to-date return is notably negative at -30.79%, while it has underperformed the benchmark Sensex, which has gained 5.72% during the same period.
In the broader market context, Hemang Resources' short-term performance has been significantly worse than the Sensex, which has risen by 1.02% over the past week, while Hemang Resources has declined by 6.33%. This stark contrast highlights the stock's struggles in a generally positive market environment. The liquidity of the stock remains adequate for trading, but the overall negative sentiment and poor performance relative to the benchmark suggest that investors are losing confidence in Hemang Resources, contributing to its ongoing decline.