Central bank meetings, macroeconomic data, newsflow on the Russia-Ukraine war and any fluctuations in crude oil will be on investors' radar this week. On the domestic front, inflation readings will be monitored closely for clues on the RBI's take on key interest rates in the coming weeks. Last week, a 40-year high reading of inflation in the US once again triggered fears of aggressive-and-faster rate hikes.

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Investors will also look out for any reversal in the trend of FII outflows for Dalal Street. March could mean a sixth straight month of FII outflows for Indian equities.

The week that was

Last week, headline indices Sensex and Nifty50 gained more than two percent each led by IT, pharma and PSU banking stocks, snapping four back-to-back weekly losses.

During the week, Brent crude oil cooled off about 19 percent after hitting a 14-year high of $139 a barrel. India meets about 85 percent of its oil requirement through imports.

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The road ahead

With state elections in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa now behind, the focus is likely to shift to global cues. The Federal Reserve and the Bank of England are due to decide on policy rates this week.

Any reduction in commodity prices, and diplomatic developments between Russia and Ukraine will be monitored closely, according to Vinod Nair, Head of Research at Geojit Financial Services. "If these global trends turn positive, the performance of the Indian market will be good, else it may get choppy," he said.

The market will also react to factory output data, released post-market hours on Friday, which showed growth in domestic industrial production improved to 1.3 percent in January in some respite from from a 10-month low.

Technically, a decisive move above 16,800 on the Nifty50 will make the recovery stronger, else a sideways-to-negative move will continue, according to Ajit Mishra, VP-Research at Religare Broking.

He suggests D-Street participants to stay light and wait for more clarity in the trend.

Here are the key factors and events that are likely to influence Dalal Street in the week starting March 14:

GLOBAL CUES

DOMESTIC CUES

The week will begin with separate data sets on wholesale inflation and consumer inflation in the country, due at noon and 5:30 pm respectively.

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