NSE VIX slumped 4.55% to 21.9625.
The Nifty May 2021 futures were at 14,694.20, a premium 76.35 points compared with Nifty's spot closing of 14,617.85.Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 44.63 lakh crore compared with Rs 37.28 lakh crore in the previous session.
In the cash market, the Nifty 50 index surged 121.35 points or 0.84% to 14,617.85.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 4.55% to 21.9625.
Lupin, Vedanta and Sun Pharmaceutical Inds were the top traded stock futures contracts in F&O segment for May expiry.
The May F&O contracts will expire on 27 May 2021.
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