Indian indices — Sensex and Nifty 50 — are set to open lower on May 12, tracking a slide in global peers, on data hinting at a slowdown in the US economy as investors awaited domestic retail inflation data for April.

On May 11, the markets closed a little changed amid volatility on what was weekly expiry day.

The US markets closed mixed as Disney results dragged the Dow lower. The US producer price index for the month of April saw a further slowdown to 2.3 percent versus 2.7 percent and coal prices slowed to around 3.2 percent.

Bank of England has raised interest rates to 4.5 percent, the highest since 2008.

Meanwhile, the Asian market was mixed with SGX indicating a soft start for the Indian market. Brent crude, which has corrected a tad bid on account of fears with regards to the impasse over the debts ceiling as well as the US producer price index.

Tata Motors, Cipla, Vedanta and Colgate among others are due to report their quarterly earnings today.

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