Foreign investors buy RComm June futures

Reuters Market Eye - Foreign institutional investors (FIIs) bought 5.62 billion rupees worth of stock futures on Tuesday, NSE data shows. Derivatives analysts say buying mainly concentrated on Reliance Communication futures.

"Our analysis suggests that FIIs would have bought Reliance Comm for sure, as it added 2.5 million shares in open interest across futures, which signifies the counter may move higher," says Sunil Kumar Arora, country head of futures and options at Kantilal Chhaganlal Securities.

Reliance Communication added 3.16 million shares in outstanding open positions in July futures on Tuesday, with cash shares surging 11.6 percent on that day, indicating fresh long positions, derivatives analysts say.

On options side, Reliance Communications' June 110 put options saw sales of 2.83 million shares.

(Reproting by Abhishek Vishnoi)