NSE VIX fell 3.25% to end below 20 mark.
The Nifty May 2021 futures were at 14,955.40, a premium of 32.25 points compared with Nifty's spot closing of 14,923.15.Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 33.06 lakh crore compared with Rs 25.40 lakh crore in the previous session.
In the cash market, the Nifty 50 index surged 245.35 points or 1.67% to 14,923.15.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 3.25% to 19.6075.
SBI, Tata Steel and Reliance Industries 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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