Why is Zenlabs Ethica falling/rising?

As of 10-Nov, Zenlabs Ethica Ltd's stock price is currently at Rs 29.87, reflecting a decrease of Rs 1.97 or 6.19%. The stock has been underperforming, having fallen consecutively for the last two days, with a total decline of 6.66% during this period. Today's trading has shown high volatility, with the stock reaching an intraday high of Rs 34 and a low of Rs 29.5, indicating a wide trading range of Rs 4.5. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a bearish trend. Notably, investor participation has decreased significantly, with delivery volume dropping by 91.31% compared to the 5-day average, indicating a lack of confidence among investors.
In the broader market context, Zenlabs Ethica's performance has been notably weaker than the benchmark Sensex, which has shown a slight decline of 0.53% over the past week, while Zenlabs has dropped by 2.58%. Over the past month, the stock has decreased by 4.17%, contrasting with the Sensex's gain of 1.25%. Year-to-date, Zenlabs Ethica has experienced a substantial decline of 24.38%, while the Sensex has increased by 6.91%. This stark difference in performance highlights the challenges faced by Zenlabs Ethica in the current market environment, contributing to its falling stock price.