The Nifty closed the day higher by 12 points, while the Sensex closed with a gain 22 of points.
Shares in India's largest passenger car company Maruti rose 7 per cent, after the company said that it would seek small investor nod for allowing Suzuki Motor Corporation to set up the Gujarat plant.
Other notable gainers in trade were heavyweights Reliance Industries and ITC. PSU banking stocks were the stars today on hopes of recovery in non performing assets. Notable gainers from the space were Oriental Bank of Commerce, State Bank of India, Canara Bank and Bank of India.
However, private sector banking names like ICICI Bank and HDFC Bank did not lend much support to the market ending the day lower.
Software stocks exhibited a weak trend in trade with Tata Consultancy Services, Infosys and Wipro ending the day lower.
Engineering major L&T also ended the day lower on profit booking. The stock has rallied almost 17 per cent this year.
Mid cap stocks also ended the day higher led by strong gains in PSU banks. Sun TV Network and Adani Power were the other mid cap gainers in trade.
Meanwhile, Asian markets ended the day higher after Ukraine tensions began to ease. The Japanese Nikkei and the Seoul Composite ended higher.
However, European markets were trading with losses with UK's FTSE, German DAX and French CAC lower.