Sensex, Nifty under pressure amid volatility; gold prices rise

Equity benchmarks extended fall amid volatility in afternoon, weighed by oil, banking & financials, metals and auto stocks.

The 30-share BSE Sensex was down 67.63 points at 27220.54 and the 50-share NSE Nifty fell 22.10 points to 8390.70.

The broader markets also erased morning gains to trade flat.

Reliance Industries, HDFC, HDFC Bank, ICICI Bank, Adani Ports and ONGC were leading contributors to Sensex’s fall, down 0.6-2.7 percent.

ITC, Asian Paints, HUL, TCS, Infosys, L&T and Axis Bank continued to support the market, rising 0.5-1.6 percent.

Gold prices rose to hover near seven-week highs hit the day before, with safe-haven demand boosted ahead of a speech in which British Prime Minister Theresa May is expected to discuss plans for a “hard Brexit”.

US gold futures were up 1.2 percent at USD 1,210.40 per ounce while silver futures rose 1.10 percent to USD 16.95 an ounce.

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