Why is Max India Ltd falling/rising?

As of 25-Sep, Max India Ltd is currently priced at 224.65, reflecting a rise of 22.65, or 11.21%. Despite this increase, the stock is underperforming its sector significantly, with a performance today that is down by 100.19%. Additionally, the stock 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% against the 5-day average, suggesting a decline in investor participation. The stock's year-to-date performance shows a decline of 12.64%, although it has seen substantial growth over the past three years at 187.90%.
In the broader market context, Max India Ltd has outperformed the Sensex over the past week and month, with returns of 8.87% and 3.88%, respectively, while the Sensex has declined by 2.23% and 0.58%. However, the stock has lagged behind the benchmark on a year-to-date basis and over the past year. This mixed performance indicates that while there may be short-term gains, the overall trend remains concerning, particularly with falling investor participation and liquidity issues. The lack of positive factors in the dashboard further emphasizes the challenges the stock is facing in maintaining momentum despite the recent price increase.