Expect rupee to appreciate further: Karvy

Karvy Stock Broking expects the rupee to appreciate further on the back of strong inflows into equity and debt markets, according to its morning report.

The report says, "On Thursday, US equity markets ended positive, Dow giving a close at 12,170 up by 84 points. On economic data front the unemployment claims came in lower than expected, which helped fuelling the markets upwards. For today final GDP Q/Q figures are expected to have major effect on markets. These numbers are expected to come in higher. Most of the Asian equity markets are trading up. SGX Nifty is also higher by half percent. On the back of strong inflows into equity and debt markets we can expect the rupee to appreciate further. But broadly the rupee is expected to trade in a range today. The Dollar Index is trading slightly positive at 75.692."

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