Why is ONGC falling/rising?

As of 30-Jul, Oil & Natural Gas Corporation Ltd. is experiencing a slight increase in its stock price, currently at 241.80, reflecting a change of 0.35 or 0.14% upward. The stock has outperformed its sector by 0.43% today and has shown a consecutive gain over the last two days, rising by 0.71% during this period. However, it is important to note that the stock has underperformed in the short term, with a 1-week return of -1.43% compared to the benchmark Sensex's -1.50%. Despite a high dividend yield of 5.7% and a low debt-to-equity ratio of 0.39, the company has faced challenges, including a significant decline in profits over the past year, which has contributed to a 27.12% drop in stock value over the same period.
In the broader market context, while the stock has shown some resilience with a year-to-date return of +1.15%, it has still lagged behind the Sensex, which has gained 4.28% year-to-date. The company's recent performance is further complicated by negative results over the last four consecutive quarters, leading to a substantial decline in key financial metrics such as profit after tax and earnings per share. Additionally, the falling investor participation, indicated by a 7.09% decrease in delivery volume, suggests a lack of confidence among retail investors, which may be impacting the stock's ability to recover from its previous losses. Overall, while there are some positive indicators, the combination of poor financial performance and market sentiment appears to be weighing on the stock's potential for a more significant rebound.