Why is Max India Ltd falling/rising?

As of 18-Sep, Max India Ltd is experiencing a decline in its stock price, currently at 206.35, which reflects a decrease of 6.2 or 2.92%. The stock has underperformed significantly today, with a performance that is 100.19% lower than its sector. 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 dropped by 66.02% compared to the 5-day average, suggesting a decrease in investor participation. Over the past year, the stock has seen a decline of 8.52%, while year-to-date, it has fallen by 19.75%, contrasting sharply with the Sensex, which has gained 6.24% in the same period.
In the broader market context, Max India Ltd's short-term performance has been notably poor compared to the benchmark Sensex, which has increased by 1.80% over the past week, while Max India Ltd has decreased by 4.07%. This underperformance highlights a lack of investor confidence in the stock, especially as it struggles to attract trading volume and maintain liquidity. The absence of any positive factors in the dashboard further emphasizes the challenges the company is facing in the current market environment.