Nifty may open firm in line with global mkts; Quess Corp to list

Moneycontrol BureauAfter a near 10-month closing high on Monday, a fairly good start is seen for the 50-share Nifty today in line with the trend across other global markets. The SGX Nifty was trading 32.00 points higher at 8520.00 at 7.42 AM. 

Asian markets were broadly higher with shares in Japan leading the region. The Nikkei 225 was up 3.34 percent while Hong Kong's Hang Seng was about 0.81 percent higher. China's Shanghai Composite was up around 0.35 percent.

US stocks closed higher on Monday as investors cheered an election in Japan and extended a jobs-report rally. The S&P 500 index closed at a new all-time high and also posted a new all-time intraday high of 2,143. Also, Alcoa reported its earnings after market close with second quarter revenues beating estimates.

European stocks also finished with strong gains. In stock-specific action Thyssenkrupp jumped as much as 6 percent, after the German steelmaker confirmed that it was in talks with India's Tata Steel about a consolidation of beleaguered European steel mills

Among currencies, the US dollar inched near a one-week high against the yen following Japanese Prime Minister Shinzo Abe's call for a fresh round of fiscal stimulus. The pound also gained on reports Theresa May is set to be UK Prime Minister after Andrea Leadsom quit.

In commodities, crude prices extended losses pressured by rising Canadian supplies, a higher US oil rig count, and cuts in bullish hedge fund bets on crude. Gold prices also slipped as strong US Jobs data and the prospect of more monetary stimulus from some central banks boosted stock markets.