NSE VIX slumped 5.5% to 20.8225.
The Nifty May 2021 futures were at 14,860, a premium of 36.85 points compared with Nifty's spot closing of 14,823.15.Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 20.48 lakh crore compared with Rs 79.71 lakh crore in the previous session.
In the cash market, the Nifty 50 index surged 98.35 points or 0.67% to 14,823.15.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 5.5% to 20.8225.
Tata Steel, HDFC and RIL 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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