The Nifty May 2025 futures closed at 24,375, a premium of 128.3 points compared with the Nifty's closing of 24,246.70 in the cash market.

In the cash market, the Nifty 50 declined 82.25 points or 0.34% to 24,246.70.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 1.81% to 16.25.

Reliance Industries, HDFC Bank and IndusInd 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.