In the cash market, the Nifty 50 index declined 265.80 points or 1.10% to 24,008.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.97% to 21.63.
Tata Motors, Larsen & Toubro 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.