What will steer the share market today: US-China trade tensions, Rupee movement and other key things to watch out for

The Indian headline indices- Sensex and Nifty are likely to open lower amid US-China trade tensions. The SGX Nifty settled at  11,375.50 level, down 27.50 points from the previous settlement.On Wednesday, while the Sensex closed down 1.3 percent at 37,789.13 level, the Nifty 50 also ended its lowest in around six weeks, it settled down by 1.2 percent at 11,359.45 mark. its lowest close in more than six weeks. We take a close look at get things which will drive the market today:

Crude Oil Prices: Brent crude oil futures were last seen at $69.92 a barrel by 0102 GMT, down 44 cents from their previous close, while the US West Texas Intermediate (WTI) crude futures were at $61.67 per barrel, down 45 cents from their last settlement.

Also read: Titan’s Q4 profit up 4.4% at Rs 296 crore; key figures in nutshell

US-China trade tensions: The US will raise tariffs on Chinese imports of $200 billion to 25 percent from 10 percent beginning this Friday, according to a notification onFederal Register on Wednesday. According to the notice, the US Trade Representative’s office will establish a process to request exclusion of particular products from additional tariffs.

RBI on Fiscal Slippages: The Reserve Bank of India Wednesday warned of the increasing risks to fiscal consolidation of the states on account of farm loan waivers, income support schemes and the Uday bonds for their power distribution companies. The central bank has noted particular factors that will steer fiscal slippages in the revised estimates of FY19.

Rupee movement: The rupee ended down by 28 paise at 69.71 a dollar, down 28 paise, extending losses for the third consequent day on account of US-China trade worries and a large sell-off in the domestic equity markets. According to experts, the Indian rupee will be under pressure today because of escalating US-China trade tensions.

FIIs and DIIs: On Wednesday, while the foreign institutional investors (FIIs) sold shares of Rs 702 crore on a net basis, domestic institutional investors or DIIs purchased shares worth Rs 233 crore.