New Delhi, May 15 -- The Indian stock market is expected to open on a flat note on Friday, following mixed cues from global markets, as sentiment remains cautious. The trends on Gift Nifty also indicate a flat start for the Indian benchmark index.

The Gift Nifty was trading around 23,675 level, a discount of nearly 25 points from the Nifty futures' previous close.

The equity market witnessed a strong short covering rally in the previous session, with the benchmark Nifty 50 closing above 23,600 level.

The Sensex spiked 789.74 points, or 1.06%, to close at 75,398.72, while the Nifty 50 settled 277.00 points, or 1.18%, higher at 23,689.60.

On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motil...