In the cash market, the Nifty 50 slipped 117.25 points or 0.51% to 22,795.90.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.03% to 14.53.
HDFC Bank, Axis Bank and Reliance Industries were the top trading individual stock futures contracts in the F&O segment of the NSE.
The February 2025 F&O contracts will expire on 27 February 2025.