In the cash market, the Nifty 50 fell 128.10 points or 0.56% to 22,957.25.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.34% to 18.20.
HDFC Bank, Reliance Industries and Axis Bank were the top trading individual stock futures contracts in the F&O segment of the NSE.
The January 2025 F&O contracts will expire on 30 January 2025.