The Indian stock market has experienced a downturn, with the Nifty index declining for the third consecutive series, closing at 23,727.65, down by 25.80 points or 0.11%. This marks the first time in 21 months that the market has posted losses for three consecutive series. Over the last three series, the Nifty has fallen 10%, the largest drop since June 2022. The decline was primarily driven by poor performances from major stocks, including Hero Moto and Asian Paints, the latter reaching a 52-week low. The Sensex also settled lower at 78,472.87, down by 67.30 points or 0.09%. The Nifty Bank index ended at 51,233, down 84.60 points or 0.16%. Market analysts are observing whether the Nifty can break out of its current range-bound trading pattern, particularly as it continues to face resistance around the 200-day moving average of 23,840.