Why is SpiceJet falling/rising?

As of 04-Aug, SpiceJet Ltd is experiencing a decline in its stock price, currently at Rs 34.38, which represents a decrease of Rs 1.23 or 3.45%. The stock has hit a new 52-week low of Rs 34.1 today and has been on a consecutive downward trend for the last four days, resulting in a total decline of 8.98% 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 company has shown poor long-term growth, with net sales declining at an annual rate of 15.41% over the past five years, and it has a negative book value, contributing to its weak long-term fundamental strength. Furthermore, 42.18% of promoter shares are pledged, which adds downward pressure in a falling market.
In the broader market context, SpiceJet's performance has significantly underperformed compared to the benchmark Sensex, with a 1-week return of -8.03% against the Sensex's slight gain of 0.16%. Over the past year, SpiceJet has generated a return of -36.77%, while the Sensex has remained relatively flat with a return of 0.05%. This stark contrast highlights the challenges faced by SpiceJet in the current market environment, compounded by its high debt levels and negative EBITDA, which make it a risky investment. The stock's recent performance reflects a combination of internal operational struggles and external market pressures, leading to its current decline.