Street ups bets on consumer, bank and telecom futures

With the Nifty inching closer to 10,000 levels after the recent spurt amid optimism over the gradual lifting of the lockdown, the broader markets have been abuzz with activities. Analysts said traders are focusing more on bank, telecom and select consumer stocks in the June series. ET takes a look at 5 stocks which are garnering interest in the futures segment with surge in open interest.

Vodafone Idea
CMP: Rs 7.70
Share Price Chg in June series: 32.8%
OI Change in June series: 26.2%

The stock is surging despite denying getting a proposal from Google for a stake purchase. “Optimism is created by the Facebook-Jio deal. Market participants believe with one of the FANGs companies investing in India, others may also want to invest here through the telecom sector,” said Rajiv Sharma, head of research at SBICAP. Analysts believe the gains may not sustain as the firm is debt ridden and the AGR.