Market closed in the red for the fifth consecutive day; Sensex falls by 522 points, Nifty at 19122

The domestic stock market closed in the red for the fifth consecutive day on Wednesday (October 25). During this period, major benchmark indices of the market slipped due to weak global cues. On the third trading day of the week, BSE Sensex closed at 64,049.06 with a fall of 522.82 (0.80%) points. On the other hand, the 50-share NSE Nifty index closed at 19,122.15, down 159.60 (0.83%).

Selling pressure in IT and financial sectors increased on the market
During Wednesday's trading session, there was increased pressure on the market due to selling in IT, financial and pharma sectors. The top loser of Nifty was the share of Apollo Hospitals, which closed down 2.4%. Earlier on Monday, the Indian market had declined for the fourth consecutive day and the BSE Sensex had weakened by 825 points and closed at the level of 64,571. The market was closed on Tuesday on the occasion of Dussehra.

Investors had to suffer huge losses
Investors suffered a loss of about Rs 15 lakh crore due to selling in the stock market for the fifth consecutive day. During this period, the total market cap of companies listed on BSE decreased to Rs 309.32 lakh crore, after the market closed on October 17 it was Rs 323.87 lakh crore.

Ban will be removed from Rana Kapoor's accounts
SEBI has ordered to lift the freeze on the bank accounts as well as share and mutual fund accounts of former Yes Bank CEO Rana Kapoor. Rana Kapoor is in jail since March 2020 in the DHFL money laundering case. Sebi had in July sent a notice to Rana Kapoor asking him to pay a total of Rs 2.22 crore, including interest and recovery costs, in the case of mis-selling of Yes Bank's Additional Tier-1 (AT1) bonds.

Axis Bank profit of Rs 5,863 crore
New Delhi. Axis Bank has made a profit of Rs 5,863 crore in the September quarter. This is 10 percent more than Rs 5,329 crore in the same quarter a year ago. After releasing the financial results on Wednesday, the bank said that its total income was Rs 31,660 crore. Net interest income increased by 19 percent to Rs 12,315 crore.

ADB approves $400 million loan to improve urban infrastructure
New Delhi: The Asian Development Bank (ADB) has approved a $400 million loan to support the urban reform agenda of the Government of India to build high-quality urban infrastructure and efficient governance systems. ADB said the program includes controlling urban sprawl and capacity building of urban local bodies. It also envisages enhancing the entire ecosystem of legal, regulatory and institutional reforms along with community awareness.