The Nifty May 2024 futures closed at 22,375, a premium of 72.5 points compared with the Nifty's closing 22,302.50 in the cash market.
In the cash market, the Nifty 50 slipped 140.20 points or 0.62% to 22,302.50.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 2.45% to 17.01.
State Bank of India, HDFC Bank and ICICI Bank were the top traded individual stock futures contracts in F&O segment of NSE.
The May 2024 F&O contracts will expire on 30 May 2024.