Why is Nettlinx falling/rising?

As of 02-Jul, Nettlinx Ltd is currently priced at 25.88, reflecting a decline of 0.52 or 1.97%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 4.15% during this period. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock has significantly underperformed the broader market, with a year-to-date return of -66.82% compared to the Sensex's gain of 6.75%. While the stock is trading at a discount relative to its peers, it has shown weak long-term fundamentals, including a negative growth rate in net sales and a substantial drop in profit after tax.
In the broader market context, Nettlinx's recent performance is starkly contrasted by the Sensex, which has gained 0.79% over the past week and 2.50% over the past month. The company's declining stock price is compounded by decreasing promoter confidence, as they have reduced their stake by 3.84%, which may signal a lack of faith in the company's future prospects. Furthermore, the stock's weak financial indicators, such as a low return on equity and a poor debtors turnover ratio, contribute to its negative outlook. Overall, the combination of poor short-term performance, weak fundamentals, and declining investor confidence has led to the stock's downward movement.