In the cash market, the Nifty 50 index declined 140.60 points or 0.58% to 24,273.80.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 10.21% to 21.01.
Tata Motors, Asian Paints and State Bank of India were the top traded individual stock futures contracts in the F&O segment of the NSE.
The May 2025 F&O contracts will expire on 29 May 2025.