Pre-marlet Update: Indian markets are poised for a muted start on Thursday after five straight sessions of gains. While sentiment remains upbeat on the back of ongoing GST reform optimism, progress in Russia-Ukraine peace talks, and improving India-China ties, global cues appear mixed.

At 8:10 AM, GIFT Nifty futures were trading at 25,106, up 26 points, hinting at a flat-to-positive open for the domestic benchmarks.

Investors will closely track India’s Flash Manufacturing and Services PMI data, expected later today, for fresh cues on the economic recovery.

In Asia, early trade showed a mixed picture. Japan’s Nikkei 225 was down 0.3%, while South Korea’s KOSPI gained nearly 1%, as markets responded to a four-day losing streak in the S&P 500.

Overnight, Wall Street remained under pressure, dragged by tech stocks and mixed retail earnings. The S&P 500 slipped 0.24%, the Nasdaq fell 0.67%, while the Dow Jones closed flat with a slight positive bias.

IPO Watch

In the mainboard segment, today is the final day to subscribe to:

Shreeji Shipping Global

Gem Aromatics

Vikram Solar

Patel Retail

Mangal Electrical Industries enters Day 2 of its IPO subscription.

In the SME segment, the IPO of ARC Insulation & Insulators opens today, while LGT Business Connextions wraps up its bidding process.