Why is Pharmaids Pharma falling/rising?

As of 07-Oct, Pharmaids Pharmaceuticals Ltd is experiencing a decline in its stock price, currently at Rs 53.90, which represents a decrease of 2.16 or 3.85%. The stock has been underperforming significantly, having fallen for the last six consecutive days, resulting in a total decline of 11.61% during this period. Despite opening with a gain of 7.03% today and reaching an intraday high of Rs 60, it also touched a low of Rs 45.5, indicating high volatility with an intraday fluctuation of 13.74%. The stock is trading below its moving averages across various time frames and has seen a decrease in investor participation, with delivery volume dropping by 27.61% compared to the five-day average.
In the broader market context, Pharmaids Pharmaceuticals Ltd's performance over the past week shows a decline of 9.35%, while the benchmark Sensex has increased by 2.07%. This stark contrast highlights the stock's underperformance relative to the market. Over the year-to-date, Pharmaids has declined by 23.52%, while the Sensex has gained 4.85%. The overall negative sentiment surrounding the stock, coupled with its recent volatility and declining investor interest, suggests that it is facing challenges that are not present in the broader market, contributing to its current downward trend.