Market Ahead, November 5: All you need to know before the Opening Bell

Corporate results, global cues, macro data, and foreign fund flow would guide the market trajectory today. 

A total of 94 companies, including Titan, Tech Mahindra, Dabur India, and Punjab National Bank are scheduled to announce their September quarter earnings today. On the macro front, India's Services PMI data will be released later in the day.

Yesterday, the benchmark Sensex closed at a new all-time high after seven straight days of gains. The index rose 137 points to end at 40,302, surpassing its previous record of 40,268 made on June 3. The broader Nifty50 index rose 51 points to end at 11,941.

The index managed to close above the 11,900-mark in the last trading session. It has been forming wave E of the rising wedge pattern and is expected to inch towards the upper end of the rising wedge pattern. According to analysts, the short term target is 12,050-12,100 whereas the support is pegged at 11,800 levels.

On the global front, Asian shares closed in on their July peak on Tuesday on increasing signs the United States and China are inching closer to a truce in their trade war. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade after hitting a four-month high the previous day. Japan's Nikkei rose 1.34 per cent to one-year high. 

On Wall Street, the S&P 500 gained 0.37 per cent to a record high of 3,078 while the Dow Jones and the Nasdaq also clinched all-time highs. The SGX Nifty, though, suggested a flat to negative start to the day for domestic indices.

In commodity, oil prices rose on Monday. Brent crude futures settled at $62.13 a barrel, up 44 cents. 

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