Why is ONGC falling/rising?

As of 11-Aug, Oil & Natural Gas Corporation Ltd. (ONGC) is experiencing a slight increase in its stock price, currently at 233.60, reflecting a change of 0.5 or 0.21% upward. Despite this minor gain, the stock has underperformed its sector by 0.8% today and has been on a downward trend, having fallen for seven consecutive days prior to this uptick. The stock is trading below its moving averages across various time frames, indicating a bearish trend. Additionally, the stock has shown a significant decline over the past year, with a return of -29.77%, while the company's profits have also decreased by 27.8%. However, it maintains a high dividend yield of 5.91% and a low debt-to-equity ratio of 0.39, which could attract some investors looking for value.
In the broader market context, ONGC's recent performance has been weaker compared to the benchmark Sensex, which has shown a decline of only 0.51% over the past week. The stock's year-to-date performance is also concerning, with a decline of 2.28% against the Sensex's gain of 3.15%. The high institutional holdings at 37.23% suggest that knowledgeable investors are closely monitoring the company's fundamentals, which may influence future price movements. Despite the attractive valuation metrics and healthy long-term growth in operating profit, the negative results over the last four quarters and the significant drop in investor participation, as evidenced by a 62.77% decrease in delivery volume, contribute to the stock's overall downward pressure.