Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 173.77 lakh crore compared with Rs 140.11 lakh crore reported in the previous session.
In the cash market, the Nifty 50 lost 111.65 points or 0.65% to settle at 16,988.40.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 8.39% to 16.0075.
Reliance Industries (RIL), HDFC Bank and ICICI Bank were the top traded individual stock futures contracts in F&O segment of NSE.
The March 2023 F&O contracts will expire on 29 March 2023.