In the cash market, the Nifty 50 gained 167.95 points or 0.75% to 22,570.35.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 4.42% to 10.73.
Kotak Mahindra Bank, Axis Bank and HDFC Bank were the top traded individual stock futures contracts in F&O segment of NSE.
The May 2024 F&O contracts will expire on 30 May 2024.