Why is Nandan Denim falling/rising?

As of 24-Sep, Nandan Denim Ltd's stock price is currently at 3.48, reflecting a decrease of 0.02, or 0.57%. The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 3.87% during this period. Additionally, Nandan Denim is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Although there has been a rise in investor participation, with delivery volume increasing by 6.56% compared to the 5-day average, the overall performance remains weak, as evidenced by the stock's year-to-date decline of 28.40% and a staggering 50.21% drop over the past year. There is no information available regarding positive or negative factors that could influence the stock's recent movement.
Broader market context shows that Nandan Denim's short-term performance has been worse than the benchmark, with a 1-week return of -2.79% compared to the Sensex's -1.18%. While the stock has outperformed the benchmark over the longer term, such as a 3-year return of 12.62% against the Sensex's 40.65%, the current short-term trends indicate a struggle for the company amidst a broader market that has shown some resilience. The stock's liquidity remains adequate for trading, but the persistent decline suggests that investor sentiment is currently negative.