In the cash market, the Nifty 50 lost 234.40 points or 1.03% to 22,519.40.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rallied 3.82% to 11.53.
HDFC Bank, Tata Consultancy Services and Reliance Industries were the top traded individual stock futures contracts in F&O segment of NSE.
The April 2024 F&O contracts will expire on 25 April 2024.