Live Market updates Today: 3 July

The broader index, indicated by the Gift Nifty, is expected to start the week with a gain of 15 points. The futures stood at 19,360 points.

In the US markets, Wall Street's major indexes performed well on Friday. The Nasdaq, particularly, had its biggest first-half gain in 40 years, with a more than 31 percent increase. The Nasdaq 100 index, consisting of top technology stocks, also experienced its biggest first-half gain on record, adding around 39 percent. Apple Inc reached a market valuation of $3 trillion for the first time since January 2022. It closed at $193.97, up 2.3 percent, with growing interest in growth stocks and optimism regarding the company's expansion into new markets. The Dow Jones Industrial Average rose 285.18 points (0.84 percent) to 34,407.6, the S&P 500 gained 53.94 points (1.23 percent) to 4,450.38, and the Nasdaq Composite added 196.59 points (1.45 percent) to 13,787.92.

In Asian markets, there was a positive trend as investors reviewed manufacturing activity reports from the region. China's Caixin manufacturing purchasing managers index was expected to show a slight expansion despite official government readings recording a third straight month of contraction. Mainland China markets performed well, with the Shanghai Composite gaining 0.4 percent and the Shenzhen Component edging up 0.7 percent. Hong Kong's Hang Seng index rose 1.1 percent, and the Hang Seng Tech index climbed nearly 2 percent. Private surveys for factory activity in Japan, South Korea, Taiwan, India, and some ASEAN countries were also scheduled to be released.

Oil prices slipped in early Asian trade due to global macroeconomic headwinds and the possibility of further interest rate hikes by the US Federal Reserve, which offset forecasts of tighter supplies amid OPEC+ cuts. Brent crude futures dropped 20 cents (0.3 percent) to $75.21 a barrel, while US West Texas Intermediate crude was at $70.41 a barrel, down 23 cents (0.3 percent).

Gold prices edged lower in early Asian trade, influenced by a slightly stronger US dollar and expectations of more interest rate hikes by the Federal Reserve. Spot gold was down 0.1 percent at $1,917.19 per ounce, while US gold futures fell 0.2 percent to $1,925.10. In June, gold prices declined by 2.2 percent and experienced a 2.5 percent fall for the second quarter, mainly due to expectations of a longer path of rate hikes by the Fed.