The Nifty October 2022 futures closed at 16,850, a premium of 31.9 points compared with the Nifty's closing of 16,818.10 in the cash market.

Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 292.33 lakh crore compared with Rs 149.23 lakh crore reported in the previous session.

In the cash market, the Nifty 50 index declined 40.50 points or 0.24% to settle at 16,818.10.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.58% to 21.30.

Vodafone Idea, Tata Motors and RIL were the top traded individual stock futures contracts in F&O segment of NSE.

The October 2022 F&O contracts will expire on 27 October 2022.