In the cash market, the Nifty 50 slipped 420.35 points or 1.86% to 22,124.70.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 4.39% to 13.89.
IndusInd Bank, HDFC Bank and Adani Green Energy were the top trading individual stock futures contracts in the F&O segment of the NSE.
The March 2025 F&O contracts will expire on 27 March 2025