Indian markets are likely to flat tracking the SGX Nifty and Asian markets, said Angel Broking in its report.

US stocks started lower but rallied to close slightly negative for the session. US producer price index for final demand climbed by 0.5 percent in April against expectations of a price rise by 0.2 percent. Core producer prices rose by 0.4 percent in April and were up by 1.9 percent YoY.

UK stock indices closed flat yesterday after the Bank of England's rate-setting body decided to hold interest rates steady in a split. The Bank of England also downgraded its 2017 growth outlook to 1.9 percent from 2 percent, citing weakening household spending. However, the bank lifted the growth projection for 2018 to 1.7 percent from 1.6 percent and for 2019 to 1.8 percent from 1.7 percent.

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