Indian markets opened higher on Wednesday with Sensex gaining 376.89 points and Nifty rising 101.20 points. Maruti Suzuki led gainers with a 3.31 percent surge to 13,319, while Eternal climbed 3.11 percent. However, analysts warn that gains may be short-lived due to global headwinds. Crude oil prices remain elevated around 110-113 per barrel following BP's strong quarterly results driven by supply disruptions near the Strait of Hormuz. The UAE's planned exit from OPEC on May 1 could have medium-term supply implications. Market structure remains range-bound with support at 23,900-24,000 and resistance at 24,200-24,300, as traders await a clear breakout before taking aggressive positions amid global uncertainty and FOMC concerns.
