Why is Max India Ltd falling/rising?

As of 08-Sep, Max India Ltd's stock price is currently at 217.60, reflecting a decline of 3.6 points or 1.63%. The stock has underperformed its sector significantly today, with a performance gap 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 significant drop of 15.38%, contrasting with a modest gain of 3.39% in the benchmark index, Sensex.
In the broader market context, while the Sensex has gained 0.53% over the past week, Max India Ltd has experienced a slight decline of 0.39%, indicating a relative weakness in its performance. Over the past month, however, the stock has shown a positive return of 6.51%, outperforming the Sensex's 1.16% gain. Despite this recent uptick, the overall long-term performance remains concerning, with a 1-year decline of 10.19% compared to the benchmark's minor loss of 0.49%. This suggests that while there may be short-term fluctuations, the stock's overall trajectory is still downward, influenced by reduced liquidity and investor interest.