Why is Nitco falling/rising?

As of 08-Aug, Nitco Ltd's stock price is currently at Rs 121.00, reflecting a decrease of Rs 3.0 or 2.42%. The stock has underperformed its sector by 3.63% today and opened with a loss of 3.79%. It reached an intraday low of Rs 119.3, indicating significant downward pressure. Additionally, Nitco is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a bearish trend. The delivery volume has also fallen sharply by 48.9% compared to the 5-day average, indicating a decline in investor participation. Over the past month, the stock has seen a substantial decline of 19.28%, while it has performed positively over the last year with a return of 62.90%.
In the broader market context, the Sensex has only decreased by 0.92% over the past week, indicating that Nitco's short-term performance is significantly worse than the benchmark. The stock's year-to-date performance shows a decline of 4.39%, contrasting with the Sensex's increase of 2.20%. This underperformance relative to the benchmark highlights the challenges Nitco is facing in the current market environment. Overall, the combination of falling investor interest, poor short-term returns, and a bearish technical outlook contributes to the stock's recent decline.