In the cash market, the Nifty 50 lost 246.90 points or 1.10% to 22,272.50.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 8.10% to 12.47.
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.