Why is Supreme Petroch. falling/rising?

As of 07-Nov, Supreme Petrochem Ltd's stock price is currently at 660.50, reflecting a decrease of 5.8 points or 0.87%. The stock has been on a downward trend, having lost 18.05% over the past nine consecutive days. Despite opening with a gain of 6.09% today and reaching an intraday high of Rs 706.9, it has underperformed its sector by 0.91%. The stock is trading below all key moving averages, indicating a bearish trend. Additionally, while the company has strong long-term fundamentals, including a healthy return on equity and low debt levels, it has recently reported negative results, with a significant drop in profit and net sales, contributing to its recent price decline.
In the broader market context, Supreme Petrochem has underperformed compared to the Sensex, particularly over the past year, where it generated a return of -13.64% against the benchmark's positive return of 4.62%. The stock's performance over the last month shows a decline of 18.21%, while the Sensex has gained 1.57%, highlighting a significant divergence in performance. This underperformance, coupled with the recent negative financial results, has likely led to a lack of investor confidence, further exacerbating the stock's decline in a market that has been relatively stable.