Why is ONGC falling/rising?

As of 26-Aug, Oil & Natural Gas Corporation Ltd. (ONGC) is experiencing a decline in its stock price, currently at 234.15, which reflects a decrease of 2.5 or 1.06%. The stock has underperformed in the short term, with a 1-week return of -1.58% and a 1-month return of -2.52%. Despite outperforming its sector by 0.66% today, ONGC is trading below its moving averages across various time frames, indicating a bearish trend. The company has a high dividend yield of 4.74%, and while it has shown strong long-term growth with net sales increasing at an annual rate of 11.73%, it has also faced significant challenges, including a 28.57% decline in stock price over the past year and a 20.9% drop in profits.
In the broader market context, ONGC's performance has been notably weaker than the benchmark, with the Sensex showing a decline of only 1.05% over the past week and a 0.83% decline over the past month. This stark contrast highlights the stock's struggles, particularly as it has underperformed the market significantly over the last year, where the BSE500 index fell by 3.87%. The company's strong ability to service debt and high institutional holdings may provide some support, but the overall sentiment remains cautious due to its recent flat results and substantial underperformance compared to both the market and its peers.