India VIX slumped 8.94% to 25.625.
The Nifty March 2021 futures were at 14,816.90, at a premium of 55.35 to Nifty's spot closing of 14,761.55.Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 26.60 lakh crore compared with Rs 30.47 lakh crore in the previous session.
In the cash market, the Nifty 50 index surged 232.4 points or 1.6% to 14,761.55.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 8.94% to 25.625.
RIL, Bharti Airtel and Maruti Suzuki were the top traded stock futures contracts in F&O segment for March expiry.
The March F&O contracts will expire on 25 March 2021.
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