Molinari, who is seeking his second triumph at the event, was joined at the top of the standings by Chile’s Felipe Aguilar and Ireland's Simon Thornton on nine-under.
“I said at the beginning of the week I didn't want to think of anything but try to enjoy the week, try to make some birdies and I'll try to do the same Saturday and Sunday,” he said.
“It doesn't really matter that I won before, this is a special, special week for me. I was emotional yesterday on the 10th tee at 8am with only 50 people watching so now with all these people on my course it's a great feeling.
“It has been brilliant so far so let's hope it continues to stay that way over the weekend. You have to embrace it, have fun. I smile on the course when I see people I know and I know they are rooting for me so I just try to enjoy it.”
Belgian’s Nicolas Colsaerts, who shared the lead after the opening round, David Higgins and Steve Webster are tied for fourth one shot back.
Scores after round two
Felipe Aguilar (Chile) -9
Francesco Molinari (Italy) -9
Simon Thornton (Ireland) -9
David Higgins (Ireland) -8
Nicolas Colsaerts (Belgium) -8
Steve Webster (Britain) -8
Marcus Fraser (Australia) -7
Maximilian Kieffer (Germany) -7