Just before 11PM EST I saw today reputation count as 135, but around 11:40EST I am seeing my today reputation count as 2. Is this because of any timezone related to server?
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Are you sure you are not confusing the times? Looking at your reputation page, you earned 132 reputation yesterday, and 2 today (though you earned more around the time you posted here).
Stack Exchange runs on UTC time. The UTC day switches over at 7pm EST.