Benchmark indices ended the day higher led by strong support in heavyweights like TCS and HDFC.
Other PSU banking stocks which had also rallied along with SBI ended flat. Losers from the Nifty included stocks like Wipro, Bajaj Auto, Vedanta, Hindustan Unilever and Bharti Airtel.
Shares in Essar Shipping ended the day with losses after reporting results that lagged estimates.
Most of the banking stocks were having a mixed day in trade. Shares in telecom player, Idea Cellular fell after reports that the company plans to sell its tower business. The stock ended the day down 2 per cent.
Real estate shares ended the day lower led by DLF. Select stocks from the sector had rallied on the hopes that the Reserve Bank of India (RBI) would cut interest rates in their policy meet of June 2.
Meanwhile, markets across Asia spurted led by the Shanghai Composite which jumped a almost 3 per cent. European markets were trading flat with a slight negative bias.