On the political front, developments in the budget session of the Parliament will also be keenly watched, he added.
"Volatility to remain high as we go into the expiry of March series derivative this week which is also the fiscal year closing," said Abnish Kumar Sudhanshu, Director and Research Head, Amrapali Aadya Trading & Investments.
Meanwhile, in a major setback to US President Donald Trump, House of Representatives Speaker Paul Ryan on Friday withdrew a healthcare bill aimed at repealing and replacing the ObamaCare policy from vote as the Republican party failed to muster the requisite votes to get the legislation passed.
"Global stock market movement will guide the direction for domestic markets in the short-term," said Jimeet Modi, CEO, SAMCO Securities.
Auto stocks will be in focus as companies will start reporting sales data for March, beginning Saturday.
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