Why is NIIT falling/rising?

As of 23-Sep, NIIT Ltd's stock price is currently at 109.20, reflecting a decline of 1.35 (-1.22%). The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 2.98% during this period. Additionally, NIIT is trading below its moving averages across various time frames, indicating weak performance. The stock has underperformed significantly over the past year, with a return of -37.33%, and has shown poor long-term growth, with net sales declining at an annual rate of -16.73% over the last five years. The company's financials reveal a negative EBITDA and a low cash position, which further contribute to its weak outlook. Despite having a low debt-to-equity ratio and high institutional holdings, the overall sentiment remains negative due to these fundamental issues.
In the broader market context, NIIT's short-term performance has been notably worse than the benchmark, with a 1-week return of -2.59% compared to the Sensex's -0.34%. This underperformance is compounded by a decrease in investor participation, as evidenced by a 16.89% drop in delivery volume against the 5-day average. The stock's liquidity remains adequate for trading, but the prevailing negative sentiment and poor financial results have overshadowed any potential positive factors, leading to a continued decline in its stock price.