Why is Max India Ltd falling/rising?

As of 22-Jul, Max India Ltd is currently priced at 217.35, reflecting a decrease of 3.65, or 1.65%. The stock has underperformed its sector significantly today, with a performance lag of 100.19%. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The delivery volume has also decreased sharply, falling by 66.02% compared to the 5-day average, suggesting a decline in investor participation. Year-to-date, the stock has seen a decline of 15.48%, and over the past year, it has dropped by 23.56%, which further emphasizes its recent struggles.
In the broader market context, while Max India Ltd has experienced a notable short-term return of 18.84% over the past week, the benchmark Sensex has only decreased by 0.47% during the same period. This indicates that despite the recent gains, the stock's overall performance remains weak when viewed in the longer term, especially given its year-to-date and yearly declines compared to the Sensex's positive returns of 5.18% and 2.09%, respectively. The lack of available positive or negative factors further complicates the outlook, leaving the stock vulnerable to continued downward pressure amidst declining investor interest.