Why is ONGC falling/rising?

As of 02-Jul, Oil & Natural Gas Corporation Ltd. is experiencing a decline in its stock price, currently at 241.15, which reflects a decrease of 2.15 (-0.88%). The stock has underperformed its sector today by 0.37% and has been on a consecutive downward trend for the last two days, resulting in a total drop of 1.23% during this period. Over the past week, the stock has seen a slight decline of 0.25%, while its one-year performance shows a significant drop of 12.21%, contrasting with the Sensex's gain of 5.00%. Despite a high dividend yield of 5.66% and a low debt-to-equity ratio, the company has reported negative results for the last four consecutive quarters, with profits falling by 27.8%. This has contributed to a perception of weakness in the stock, despite its attractive valuation metrics.
Broader Market Context: In the context of the broader market, the stock has underperformed significantly over the past year, with the BSE500 generating returns of 3.11% compared to ONGC's negative return of 12.21%. While the stock has shown strong long-term growth with an annual operating profit increase of 16.08% and a 3-year return of 83.87%, the recent negative quarterly results and falling investor participation, evidenced by a 50.12% drop in delivery volume, have overshadowed these positives. The stock's current performance reflects a broader trend of investor caution, particularly in light of its recent financial results and the overall market's more favorable performance.