Why is ONGC falling/rising?

As of 29-Aug, Oil & Natural Gas Corporation Ltd. is currently priced at 233.80, reflecting a slight increase of 0.35 or 0.15%. The stock has shown a trend reversal by gaining after two consecutive days of decline, outperforming its sector by 1.76% today. Despite this positive movement, the stock has underperformed over the past week and month, with returns of -1.06% and -3.17%, respectively. The company benefits from a strong ability to service debt, evidenced by a low Debt to EBITDA ratio of 1.13 times, and it has a high dividend yield of 4.81%. However, it has faced challenges, including a significant decline of -29.05% over the past year, with profits also falling by -20.9%, which may contribute to investor caution.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by -1.84% over the past week and -1.88% over the past month. While ONGC has shown resilience today, its longer-term performance remains concerning, particularly as it has underperformed the market significantly over the past year. The stock's high institutional holdings at 37.23% suggest that knowledgeable investors are closely monitoring its fundamentals, which could influence future price movements. Overall, while there are some positive indicators, the stock's historical underperformance and recent profit declines may weigh on investor sentiment.