In the cash market, the Nifty 50 fell 113.15 points or 0.49% to 23,092.20.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.29% to 16.75.
Reliance Industries, HDFC Bank and Cyient 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.