In the cash market, the Nifty 50 fell 168.50 points or 0.71% to 23,644.90.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.55% to 13.97.
State Bank of India, Zomato and Adani Enterprises 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.