Why is ONGC falling/rising?

As of 05-Aug, Oil & Natural Gas Corporation Ltd. is experiencing a decline in its stock price, currently at 234.50, reflecting a decrease of -0.45 (-0.19%). The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of -3.02% during this period. Additionally, the stock has shown negative returns over the past week and month, with declines of -2.88% and -4.40%, respectively. Despite a high dividend yield of 5.86% and rising investor participation, indicated by a significant increase in delivery volume, the stock's performance has been hindered by negative results over the last four quarters, including a -26.2% drop in profit after tax compared to previous averages. Furthermore, the stock is trading below all key moving averages, which suggests a bearish trend.
In the broader market context, ONGC's performance has been notably weaker than the benchmark, with a one-year return of -24.39% compared to the Sensex's gain of +2.48%. This stark contrast highlights the stock's struggle to keep pace with market trends, contributing to investor sentiment that may be driving the stock lower. The company's low debt-to-equity ratio and healthy long-term growth in operating profit are positive factors; however, the significant decline in profits and consistent negative quarterly results have overshadowed these strengths. As a result, while the stock has a solid market position and institutional backing, its recent performance reflects a challenging environment that has led to its current downward trajectory.