Market may edge higher in early trade

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 32 points at the opening bell.

Overseas, Asian stocks were trading mixed after a muted US session ahead of midterm elections. US stocks edged higher yesterday, 5 November 2018 with Warren Buffett's Berkshire Hathaway Inc. powering gains in the S&P 500 Index.

Back home,key equity indices settled with modest losses yesterday, 5 November 2018 due to negative Asian stocks. The Sensex settled below the psychological 35,000 level after sliding below that level in early trade. The Sensex fell 60.73 points or 0.17% to settle at 34,950.92.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 12.34 crore yesterday, 5 November 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 621.94 crore yesterday, 5 November 2018, as per provisional data.

Among corporate news,Power Grid Corporation of India's net profit rose 7.9% to Rs 2309.49 crore on 14.2% increase in net sales to Rs 8283.03 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 5 November 2018.

Coal India said that the Government of India reduced its stake in the company by 3.19% to make its holding stand at 75.13% of the equity share capital of the company. The announcement was made after market hours yesterday, 5 November 2018.

HCL Technologies (HCL) said it tied up with Deutsche Bank to transform the bank's global cheque processing operations. Under the terms of the agreement, HCL will build a cloud-based digital and fully scalable cheque processing platform for the bank. The new IT-platform is expected to go live in 2019. The announcement was made after market hours yesterday, 5 November 2018.

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