Why is ONGC falling/rising?

As of 14-Aug, Oil & Natural Gas Corporation Ltd. (ONGC) is experiencing a decline in its stock price, currently at 236.90, which reflects a decrease of 2.05 or 0.86%. Today's price movement indicates a trend reversal as the stock has fallen after three consecutive days of gains. The stock is performing in line with its sector, and while it is higher than the 5-day moving averages, it remains lower than the 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, ONGC has shown a return of +1.35%, which is a positive sign compared to the Sensex's negligible change of -0.03%. However, the stock has underperformed over the longer term, with a year-to-date return of -0.90% and a significant decline of -27.87% over the past year. Despite these challenges, the company boasts a high dividend yield of 5.76%, strong debt servicing capabilities, and healthy long-term growth metrics.
In the broader market context, ONGC's recent performance contrasts with the benchmark Sensex, which has gained 3.15% year-to-date. The stock's decline can be attributed to a combination of factors, including a significant drop in profits by -20.9% over the past year, despite a healthy annual sales growth rate of 11.73%. The high institutional holdings at 37.23% suggest that knowledgeable investors are closely monitoring the company's fundamentals, which may provide some stability. However, the stock's trading at a discount compared to its peers' average historical valuations indicates potential undervaluation, which could attract future investment if market conditions improve. Overall, while ONGC has solid fundamentals, its recent price movement reflects broader market pressures and specific challenges within the company.