Karvy Stock Broking sees rupee opening firm

Karvy Stock Broking sees Indian rupee opening firm on an appreciating note. However, the gains could be limited due to the crisis in Libya and Middle East, says the firm.

The report says, "On Monday, US equity markets ended with gains of more than one and half percent, Dow giving a close at 12,039. On Economic Data front the Economic Home Sales came in lower than expected. All of the Asian equity markets are currently trading higher at 0.5-2% may be taken cues from previous day's gain in both the Japanese and US markets. SGX nifty is also higher by half percent. Since the Asian equities are trading firm we may see Indian rupee opening firm on an appreciating note however, the gains could be limited due to the crisis in Libya and Middle East. The Dollar Index is trading slightly negative at 75.382."

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