Why is Hi-Green Carbon falling/rising?

As of 04-Nov, Hi-Green Carbon Ltd is experiencing a decline in its stock price, currently at Rs 187.90, which reflects a decrease of Rs 5.2 or 2.69%. The stock is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock is close to its 52-week low, just 2.47% away from Rs 183.25. The recent performance shows a significant underperformance, with a 1-week return of -5.10% compared to the Sensex's -1.31%, and a year-to-date decline of 24.99% against the Sensex's gain of 8.26%. Furthermore, there has been a notable drop in investor participation, with delivery volume falling by 72% against the 5-day average, which suggests a lack of confidence among investors.
In the broader market context, Hi-Green Carbon's recent performance contrasts sharply with the benchmark index, as it has underperformed significantly over various time frames. While the Sensex has shown positive returns over the past month and year, Hi-Green Carbon has faced substantial losses, highlighting a divergence in performance. This underperformance is compounded by the lack of positive factors in the available data, which could have otherwise supported a rebound in stock price. The liquidity of the stock remains adequate for trading, but the overall sentiment appears to be negative, contributing to the ongoing decline in its stock price.