NSE VIX tumbled 2.86%.
The Nifty May 2021 futures were at 14,992, a premium of 49.65 points compared with Nifty's spot closing of 14,942.35.Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 25.76 lakh crore compared with Rs 20.48 lakh crore in the previous session.
In the cash market, the Nifty 50 index surged 119.20 points or 0.8% to 14,942.35.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, slumped 2.86% to 20.225.
Tata Steel, RIL and SBI 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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