Why is Max India Ltd falling/rising?

As of 11-Jun, Max India Ltd is experiencing a price increase, with its current price at 195.85, reflecting a change of 14.45 or 7.97% upward. Despite this positive movement today, the stock has been trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a general downtrend in its performance over a longer period. Additionally, the delivery volume has significantly decreased by 66.02% against the 5-day average, suggesting a decline in investor participation. Over the past week, the stock has gained 7.02%, which is notably higher than the Sensex's increase of 1.87%, but it has underperformed its sector by 100.19% today. Year-to-date, the stock is down 23.84%, and over the past year, it has decreased by 26.94%, highlighting a challenging performance in the longer term.
In the broader market context, while Max India Ltd has shown a strong performance in the short term compared to the benchmark, its year-to-date and one-year returns are significantly negative, contrasting with the Sensex's positive returns of 5.60% and 7.92%, respectively. This disparity suggests that while the stock may be experiencing a temporary rise, it is still struggling to recover from substantial losses over the past year. The overall market sentiment appears to be more favorable towards the benchmark, which may be affecting investor confidence in Max India Ltd, despite its recent price increase.