The Nifty May 2025 futures closed at 24,120, a premium of 80.65 points compared with the Nifty's closing of 24,039.35 in the cash market.

In the cash market, the Nifty 50 declined 207.35 points or 0.86% to 24,039.35.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.95% to 17.22.

Maruti Suzuki India, Reliance Industries and Axis Bank were the top trading individual stock futures contracts in the F&O segment of the NSE.

The May 2025 F&O contracts will expire on 29 May 2025.