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Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, following mixed cues from global peers.

Asian markets traded mostly higher, while the US stock market ended flat overnight after the US House of Representatives passed President Donald Trump’s tax bill by a single vote, adding to worries about the country’s debt load.

On Thursday, the Indian stock market ended lower amid rising geopolitical tensions, mounting concerns over US debt and stretched valuations of domestic equities.

The Sensex dropped 644.64 points, or 0.79%, to close at 80,951.99, while the Nifty 50 settled 203.75 points, or 0.82%, lower at 24,609.70.

“With FIIs turning net sellers in the past few sessions, further uptick in global bond yields could prompt overseas investors to flee risky assets across the emerging markets. Also, volatility could intensify ahead of next week’s F&O expiry, and hence markets could see sharp sideways movement,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian markets traded mostly higher on Friday as investors assess a slew of economic data from the region.

Japan’s Nikkei 225 gained 0.48%, while the Topix rose 0.5%. South Korea’s Kospi added 0.36% and the small-cap Kosdaq declined 0.34%. Hong Kong’s Hang Seng index futures indicated a lower opening.

Gift Nifty was trading around 24,690 level, a premium of nearly 38 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.

US stock market ended choppy session little changed on Thursday after the House of Representatives passed the US President Donald Trump’s tax and spending bill.

The Dow Jones Industrial Average eased 1.35 points to 41,859.09, while the S&P 500 fell 2.60 points, or 0.04%, to 5,842.01. The Nasdaq Composite closed 53.09 points, or 0.28%, higher at 18,925.74.

Nvidia share price gained 0.78%, Amazon shares rose 0.98%, and Tesla stock price rallied 1.92%. Alphabet share price added 1.3% while Apple shares declined 0.36%. Snowflake stock price jumped 13.47%, while Analog Devices stock fell 4.6%. First Solar shares dropped 4.3%.

Thirty-year US bond yields reached their highest level in 19 months before easing on Thursday, amid worries lingering over the US fiscal outlook and demand for government debt, Reuters reported. The 30-year bond yield was down 3.7 basis points at 5.0521% late Thursday. The yield on benchmark US 10-year notes was down to 4.551%. During the session it had reached 4.629%, the highest since February 12.

Morgan Stanley modestly upgraded its forecast for India's economic growth to 6.2% year-on-year (YoY) for financial year 2026, up from 6.1% and 6.5% for FY 2027, up from 6.3% in view of the de-escalation of US-China trade tensions, which improves the outlook for external demand at the margin.

The number of Americans filing new applications for unemployment benefits dropped last week. Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 227,000 for the week ended May 17. Economists polled by Reuters had forecast 230,000 claims for the latest week.

Japan’s core inflation accelerated at its fastest annual pace in more than two years in April. The core consumer price index (CPI), which excludes fresh food but includes oil prices, rose 3.5% in April from a year earlier, exceeding market forecasts for a 3.4% gain and accelerating from a 3.2% increase in March.

Tata group-owned Trent and state-owned Bharat Electronics will replace Nestle India and IndusInd Bank in the 30-share Sensex. The changes will come into effect from the beginning of trading on June 23, BSE said in a statement.

Gold prices were on track for its best weekly gain in over a month amid a softer dollar and rising safe-haven appeal, Reuters reported. Spot gold prices rose 0.2% to $3,299.79 an ounce. Bullion is up about 3% so far this week and on track for its best weekly performance since early April. US gold futures gained 0.2% to $3,299.60.

Crude oil prices traded lower, heading for its first weekly decline in three, weighed down by OPEC’s another bumper production increase. Brent crude oil prices fell 0.42% to $64.17 a barrel, declining for a fourth session and bringing its weekly loss to about 2%. The US West Texas Intermediate (WTI) crude futures dropped 0.52% to $60.88.

(With inputs From Reuters)

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