Gold remains flat; silver slides Rs 150

Traders said gold prices gained by Rs 10 at the bullion market here despite a sluggish trend overseas.

Sensex rises over 150 pts; Nifty tests 11,700

BSE Sensex rise led by gains in oil and gas, banking and IT stocks, ahead of the general election results.

Strong FIIs inflows and higher domestic equity markets also improved sentiments for the rupee, forex dealers said.

The Sensex lost 382 points to close at 38,969, while the Nifty ended with losses of 119 points or 1 per cent at 11,709 levels.

UPI transaction volumes up 328 per cent.

A strengthening US dollar, weak domestic equity markets, and surging crude prices weighed on trading, forex dealers said.

After hitting an intra-day record high of 39,571.73, the 30-share index ended 382.87 points, or 0.97 per cent, lower at 38,969.80.

Gold prices fell on slump in demand from local jewellers and a weak trend overseas, according to All India Sarafa Association.

At the Interbank Foreign Exchange market, the domestic unit opened slightly up at 69.75 against the dollar.

The 30-share index was trading 205.24 points, or 0.52 per cent, higher at 39,557.91.