In the cash market, the Nifty 50 lost 150.40 points or 0.67% to 22,419.95.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 1.81% to 10.93.
Bajaj Finance, Kotak Mahindra Bank and Tech Mahindra 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.