* Energy, tech stock lead broader gains

* Energy sector on track for fifth session higher

* TSX up 0.16%

(Updates to close)

By Rashika Singh and Nivedita Balu

March 17 (Reuters) - Canada's benchmark index rose on

Tuesday supported by gains in technology and energy stocks, as

investors awaited key central bank decisions for clues on the

monetary policy outlook in Canada and the U.S. and tensions in

the Middle East raged on.

The S&P/TSX composite index was up 0.16% at 32,929.09,

a day after clocking its biggest one-day jump since February 26,

before the conflict began.

Energy stocks climbed 1.1%, gaining for a fifth

consecutive session - their longest streak since late

January. Tech stocks gained 1.8%.

Oil prices rose as renewed Iranian attacks on the United Arab

Emirates heightened concerns about the worsening outlook for

global supply if there is no quick resolution to U.S.-Israeli

war on Iran.

The spike in oil prices has reignited worries about global

inflation, prompting central banks to reassess their policy

stance. Canada is seen as relatively insulated from the latest

energy shock as it is a net oil exporter.

The U.S. Federal Reserve kicks off its two-day policy meeting

later in the day and is widely expected to keep rates unchanged.

Markets also anticipate the Bank of Canada to stand pat at its

policy announcement on Wednesday.

However, investors will closely monitor policymakers' comments

to gauge how central banks will proceed with interest rate cuts

as potential energy-driven inflation clouds the outlook.

"If you stripped out the surge in oil prices, you could say that

the Bank of Canada has quite a bit of ammunition to cut rates

further," Josh Sheluk, portfolio manager at Verecan Capital

Management, said.

"If the surge in oil prices subsides a little bit and economic

weakness persists, I wouldn't be surprised to see cuts later

this year," he said, adding that he was not expecting any

interest rates at the moment.

Goeasy ( EHMEF ) was the biggest gainer on the index, adding 13%,

after the subprime lender lost more than C$1 billion in its

market capitalization earlier this month following charge-offs

and write-downs due to weakness in its auto loan book.