NSE VIX slumped 9.02% to 20.65 as shares rallied.
The Nifty April 2021 futures were at 14,629.85, a premium of 122.55 points compared with Nifty's spot closing of 14,507.30.Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 21.44 lakh crore compared with Rs 95.13 lakh crore in the previous session.
In the cash market, the Nifty 50 index rallied 182.40 points or 1.27% to 14,507.30.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 9.02% to 20.65.
RIL, Tata Steel and ICICI Bank were the top traded stock futures contracts in F&O segment for April expiry.
The April F&O contracts will expire on 29 April 2021.
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