Why is ONGC falling/rising?

As of 17-Sep, Oil & Natural Gas Corporation Ltd. (ONGC) is experiencing a price increase, currently at 236.80, reflecting a change of 1.65 or 0.7% upward. The stock has shown a positive performance today, gaining 1.96% over the last two days, although it remains lower than the 50-day, 100-day, and 200-day moving averages. Despite a slight decline of 0.04% over the past month and a significant drop of 19.61% over the past year, the company maintains a high dividend yield of 5.32% and a strong ability to service debt, indicated by a low Debt to EBITDA ratio of 1.13 times. Additionally, ONGC's healthy long-term growth, with net sales increasing at an annual rate of 11.73%, and a return on equity (ROE) of 12.3, contribute positively to its valuation, making it attractive compared to its peers.
In the broader market context, ONGC's recent short-term return of 2.20% over the past week outperformed the Sensex, which gained 1.56% in the same period. However, the stock has underperformed the market over the last year, where the BSE500 index recorded a decline of only 2.63%. The high institutional holdings at 37.23% suggest that informed investors are backing the stock, which could provide some stability. Nevertheless, the falling investor participation, as indicated by a 26.38% drop in delivery volume against the 5-day average, raises concerns about the stock's liquidity and investor confidence moving forward.