In the cash market, the Nifty 50 dropped 364.20 points or 1.52% to 23,587.50.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 3.87% to 15.07.
HDFC Bank, Reliance Industries 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.