Stock-sector-market relationship

  1. Is it the price movement of a particular stock affect its sector’s price movement and contribute towards the broader market price movement, or vice versa, i.e. sector and broader market movement affects the stock price? How can one correctly study and attempt to gaze this loop?

  2. How alpha and beta of the stock come into play here?

  3. Kindly add your thoughts/opinion (not restricted to this stock-sector-market relationship only).

  4. Along with your valuable inputs, please also suggest some books/materials that will provide detailed thorough explanation of this loop.

  5. Thank you for your time!