Why is Newgen Software falling/rising?

As of 10-Jul, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 1,112.00, which reflects a decrease of Rs 15.15 or 1.34%. The stock has underperformed its sector by 0.71% today and has been on a consecutive downward trend for the last two days, accumulating a total decline of 1.72%. Additionally, the stock has shown a significant drop of 34.61% year-to-date, despite a positive performance of 12.90% over the past year. The stock's moving averages indicate that it is currently lower than the 5-day, 20-day, 50-day, and 200-day moving averages, although it remains above the 100-day moving average. Investor participation appears to be waning, with a decrease in delivery volume compared to the 5-day average.
In the broader market context, the Sensex has shown a slight decline of 0.06% over the past week, which suggests that the overall market sentiment is relatively stable. However, Newgen's recent performance contrasts sharply with the benchmark, as it has underperformed significantly over the past month with a drop of 9.30%. Despite the recent price decline, the company maintains strong long-term fundamentals, including a low debt-to-equity ratio and consistent profitability, as evidenced by a 20.89% growth in PAT over the last nine months. High institutional holdings at 28.48% indicate confidence among larger investors, which could provide some support for the stock in the long run.