On Tuesday, Nifty 50 gave up early gains to close in the red for the third straight session. The 50-stock index closed 0.26% lower at 23,992.55 points. 31 stocks out of the 50 ended in red.

Britannia Industries led the pack of gainers, surging by 2.75% to close at ₹5854.5, marking a notable increase from its previous close at ₹5697.9.

JSW Steel and Tech Mahindra also displayed robust performance, with stock prices climbing by 2.34% and 1.86% respectively. Larsen & Toubro and LTIM rounded off the list of top gainers with their shares moving upwards by 1.37% and 1.31%.

Conversely, HDFC Life Insurance experienced the largest decline, with a drop of 4.40%, closing at ₹679.6 from a previous ₹710.9.

On the downside, besides HDFC Life Insurance, other stocks like SBI Life Insurance, Bharat Petroleum, Shriram Finance, and State Bank of India saw their prices drop by 2.77%, 2.05%, 1.89%, and 1.72% respectively.

“Nifty erased all its morning gains in the second half of Aug 06 to record its lowest closing in a month and a third consecutive session of fall. At close, Nifty was down 0.26% or 63.1 points at 23992.6. Cash market volumes on the NSE fell 20.5% compared to the previous day. Broad market indices fell more than the Nifty even as the advance-decline ratio improved to 0.52:1 but remained below 1:1,” said Deepak Jasani, head of retail research, HDFC Securities.

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