In the cash market, the Nifty 50 dropped 332.25 points or 1.35% to 24,336.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rallied 3.31% to 14.49.
Reliance Industries, HDFC Bank and ICICI Bank were the top traded individual stock futures contracts in F&O segment of NSE.
The December 2024 F&O contracts will expire on 26 December 2024.