March 21 (Reuters) - India's benchmark indexes are set for a muted start on Friday after four sessions of gains, while information technology stocks will be in focus amid concerns over discretionary spending in the United States.

The GIFT Nifty futures GIFc1 were trading at 23,187.5 as of 08:08 a.m. IST, indicating that the blue-chip Nifty 50 .NSEI will open near Thursday's close of 23,190.65.

The Nifty has risen for four consecutive sessions this week, marking its longest daily winning streak in around seven weeks.

Foreign portfolio investors (FPIs), who were persistent sellers of Indian equities since late last year, turned buyers in two of the last four sessions, as per provisional data.

The flows will remain in focus as the FTSE March semi-annual review will come into effect later in the day, which IIFL said would lead to net inflows of $1.4 billion into India.

The index provider had added 360 ONE WAM ONEW.NS, Fertilisers and Chemicals Travancore FCTL.NS, BSE BSEL.NS and other stocks to FTSE All World Index, and increased weight of ICICI Bank ICBK.NS and Kotak Mahindra Bank KTKM.NS.

Meanwhile, IT stocks .NIFTIY could face pressure on concerns over earnings after global IT consultancy firm Accenture ACN.N flagged curbs in discretionary spending. Its shares fell 7.3% overnight.

Asian stocks inched lower in a subdued end to the week as deepening geopolitical worries and fears over U.S. tariffs and their impact on the global economy curbed investors appetite for risk. MKTS/GLOB

STOCKS TO WATCH

** Defence companies will be in focus as the defence acquisition council gives initial approval for purchase of arms and equipments worth more than 540 billion rupees ($6.26 billion)

** Manappuram Finance MNFL.NS says Bain Capital to invest 43.85 billion rupees for 18% stake in the gold loan provider

** Hindalco Industries HALC.NS plans to invest 450 billion rupees in its aluminium, copper, and specialty alumina businesses

** Ola Electric Mobility OLAE.NS says temporary backlog in February sales data due to ongoing negotiations with vehicle registration vendors

(Reporting by Bharath Rajeswaran and Vivek Kumar in Bengaluru; Editing by Varun H K)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))