Why is Reliance Industr falling/rising?

As of 08-Aug, Reliance Industries Ltd is experiencing a decline in its stock price, currently at 1,367.95, which reflects a decrease of 22.9 points or 1.65%. The stock has underperformed its sector by 0.68% today and has been on a consecutive downward trend for the last two days, accumulating a total decline of 1.79%. Over the past week, the stock has decreased by 1.84%, and in the last month, it has seen a significant drop of 11.10%. Despite a healthy long-term growth rate in net sales and strong financial metrics, including a low debt-to-EBITDA ratio and high institutional holdings, the stock's recent performance has been hindered by falling investor participation, as indicated by a 10.71% decrease in delivery volume compared to the five-day average.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with the Sensex declining only 0.92% over the same week. While Reliance Industries has shown a year-to-date return of 12.55%, its one-year return is negative at -5.51%, contrasting with the Sensex's positive return of 1.23%. This underperformance may be attributed to the stock trading below its shorter-term moving averages, which suggests a bearish sentiment among investors. The company's substantial market capitalization and its dominance in the sector do provide a foundation for potential recovery, but the current trends indicate a challenging environment for the stock in the short term.