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MARKET LIVE: Sensex down 350pts, Nifty near 16,150; Hong Kong, China surge

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Stock market live updates: The markets turned negative in early deals as selling pressure built up in IT and FMCG counters. 

The key indices are choppy in trade, in line with global markets ahead of key macro-economic data. The US is slated to release its April inflation numbers later today, while China’s factory and consumer prices for the month have come above estimates.
 

China’s consumer price index (CPI) for April grew 0.4 per cent month-on-month compared to 0.6 per cent in March due to Covid-19 induced supply disruptions.

Meanwhile, Hang Seng and Shanghai Composite indices were up 1.9 per cent and 1.6 per cent, respectively.

Delhivery IPO opens

The Rs 5,235 crore initial public offer of Delhivery has opened for subscription today and will close on Friday, May 13. The IPO is the second biggest for Dalal Street in calendar year 2022 (CY22) after state-owned Life Insurance Corporation of India’s (LIC’s) Rs 21,000 crore offer that ended recently.

The Delhivery IPO consists of a fresh issue of shares worth Rs 4,000 crore, and an offer-for-sale of Rs 1,235 crore. The price band of the issue is set at Rs 462-487 a share. Should you subscribe to Delhivery IPO? READ ABOUT IT HERE

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