In the cash market, the Nifty 50 lost 123.30 points or 0.56% to 22,023.35.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.49% to 13.69.
HDFC Bank, ICICI Bank, and ITC were the top traded individual stock futures contracts in F&O segment of NSE.
The March 2024 F&O contracts will expire on 28 March 2024.