In the cash market, the Nifty 50 jumped 307.95 points or 1.32% to 23,658.35.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 8.94% to 13.70.

Reliance Industries, HDFC Bank and State Bank of India (SBI) were the top trading individual stock futures contracts in the F&O segment of the NSE.

The March 2025 F&O contracts will expire on 27 March 2025.