In the cash market, the Nifty 50 lost 92.05 points or 0.42% to 22,004.70.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 4.90% to 12.82.
HDFC Bank, ICICI Bank, and Reliance Industries 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.