Why is Karma Energy Ltd falling/rising?

As of 03-Nov, Karma Energy Ltd is experiencing a decline in its stock price, currently at Rs 55.99, which represents a decrease of 2.94 (-4.99%). The stock has been underperforming, having fallen consecutively for the last two days with a total drop of 5.85%. Today, it opened with a loss of 4.8% and reached an intraday low of Rs 55.99. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. While there has been a notable increase in investor participation, with delivery volume rising by 151.44% against the 5-day average, the overall performance remains weak, as evidenced by a 4.70% decline over the past week and an 8.59% drop year-to-date.
In the broader market context, Karma Energy Ltd's recent performance contrasts sharply with the benchmark Sensex, which has gained 3.41% over the past month and 7.47% year-to-date. The stock's short-term return of -4.70% over the past week significantly underperforms the Sensex's decline of only 0.94% during the same period. This disparity highlights the stock's struggles relative to the broader market, suggesting that investor sentiment may be negatively impacted despite the increase in trading volume. Overall, the combination of poor price performance, underperformance against the benchmark, and a bearish trend in moving averages contributes to the stock's current downward trajectory.