The Dow Jones Industrial Average advanced on Thursday to its fourth record close in the last five sessions, as stronger-than-expected monthly retail sales indicated a robust U.S. consumer and TSMC's upbeat forecast buoyed chipmakers' stocks.

Domestic markets set to open flat with negative bias, stock-specific action expected; Bajaj Auto, L&T Tech to declare results.

Markets in India were likely headed for a muted-to-flat start on Wednesday, as indicated by GIFT Nifty futures

The Dow Jones Industrial Average rose on Wednesday and closed at a record high, and Wall Street's two other benchmark indexes also ended higher, weathering declines in megacap tech shares thanks to small-caps gains and financial shares buoyed by strong earnings.

Gift Nifty at 25,260 signals a gap-up opening of about 100 points for Nifty. However, FPI flows, especially after Chinese stimulus and strong US macro data, will be the key for a recovery in Indian markets, they said. T