In the cash market, the Nifty 50 slipped 178.35 points or 0.76% to 23,381.60.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 5.55% to 14.45.
Mahindra & Mahindra, Trent and State Bank of India 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.