Why is ONGC falling/rising?

As of 11-Jul, Oil & Natural Gas Corporation Ltd. is experiencing a decline in its stock price, currently at 241.85, which reflects a decrease of 1.15 or 0.47%. The stock has been underperforming recently, having fallen consecutively for the last two days with a total return of -0.62%. Over the past week, the stock has decreased by 1.41%, and in the last month, it has dropped by 2.22%. Despite a high dividend yield of 5.67% 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 the stock's significant underperformance over the past year, where it has generated a return of -20.65% compared to the market's positive return.
In the broader market context, the stock's short-term performance has lagged behind the benchmark, with the Sensex declining by only 1.12% over the same week. The company's recent struggles, including a substantial drop in PAT and PBT, have led to a lack of investor confidence, reflected in a 22.3% decrease in delivery volume compared to the five-day average. Although the stock has a strong market position, being the second largest in its sector, the negative sentiment surrounding its financial performance has overshadowed its attractive valuation metrics and high institutional holdings. This combination of factors suggests that the stock's recent decline is primarily driven by disappointing financial results and a lack of positive momentum in the market.