Why is Parmax Pharma falling/rising?

As of 29-Oct, Parmax Pharma Ltd's stock price is currently at Rs 31.05, reflecting a decline of Rs 3.6, or 10.39%. The stock has been underperforming, having fallen consecutively over the last two days, resulting in a total return of -11.26% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The delivery volume has also significantly decreased, with a drop of 99.2% against the 5-day average, suggesting a lack of investor interest. Over the longer term, the stock has underperformed the benchmark Sensex, with a year-to-date decline of 29.83% compared to the Sensex's gain of 8.78%.
In the broader market context, while the Sensex has shown a modest increase of 0.68% over the past week, Parmax Pharma's stock has increased by 4.40% in the same timeframe, indicating some short-term resilience. However, over the past month, Parmax Pharma has declined by 3.00%, contrasting sharply with the Sensex's 5.76% gain, highlighting its ongoing struggles. The significant drop in investor participation and the stock's failure to maintain momentum against the benchmark suggest that market sentiment remains negative towards Parmax Pharma, contributing to its recent price decline.