Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Friday tracking mixed cues from global markets and sustained FII outflows.The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index.

BSE Sensex ended the day with the decline of 494 points to 81,006 and Nifty fell 221 points to 24,749 on. Nifty Bank fell by 512 points to 51,288 and Nifty Midcap slipped 985 points to 58,465 on. IT stocks witnessed rally in trade today.

The S&P BSE Sensex added 218.14 points to close at, while the NSE Nifty50 gained 104.20 points to end at 24,854.05.

China's mainline CSI 300, Shanghai, and Hong Kong's Heng Seng were down over 1 per cent in trade as the housing policy briefing in China failed to excite investors and property stocks slumped.

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Metals made a comeback, with the Nifty Metal index snapping a four-session losing streak and gaining nearly 2 percent led by Tata Steel and Hindalco.

Axis Bank, Wipro, Eicher Motors, ICICI Bank, and Shriram Finance were among the top gainers on the Nifty index. Infosys, Britannia, Asian Paints, and Tech Mahindra were among the top losers.

At opening bell, the BSE Sensex was down 277 points, or 0.34 per cent, at 80,729, while the Nifty 50 was at 24,675, down 75 points, or 0.3 per cent. Asia-Pacific markets, meanwhile, were trading on a mixed note on Friday as investors assessed crucial GDP growth data from China and Japan’s inflation figures.

Axis Bank, Wipro, Eicher Motors, ICICI Bank and Shriram Finance were among the top gainers in the Nifty 50 pack. Axis bank settled 5.75 percent higher at Rs 1,196.95 per share on the NSE.