Why is Ponni Sug.Erode falling/rising?

As of 23-Sep, Ponni Sugars (Erode) Ltd is experiencing a decline in its stock price, currently at Rs 289.55, which represents a decrease of 1.2 points or 0.41%. The stock has been on a downward trend, having lost 4.58% over the past week and has been falling for the last seven days. Despite touching an intraday high of Rs 303, it is trading below all key moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 23.3% compared to the five-day average. The stock's year-to-date performance shows a substantial decline of 28.61%, contrasting sharply with the Sensex's gain of 5.07% over the same period.
In the broader market context, Ponni Sugars' short-term performance has underperformed the benchmark, with a weekly return of -2.56% compared to the Sensex's -0.34%. This underperformance is further highlighted by the stock's long-term returns, which show a decline of 38.33% over the past year, while the Sensex has only decreased by 3.33%. The overall market sentiment appears to be more favorable towards the benchmark, which may be contributing to the stock's continued decline.