NSE VIX slumped 7.88% to 23.6050.
The Nifty March 2021 futures were at 14,982.70, at a premium of 63.6 to Nifty's spot closing of 14,919.10.Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 35.62 lakh crore compared with Rs 26.60 lakh crore in the previous session.
In the cash market, the Nifty 50 index surged 157.55 points or 1.07% to 14,919.10.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 7.88% to 23.6050.
RIL, Tata Motors and Infosys 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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