Indian equity benchmark indices on Monday recovered from the early losses and ended on flat note in the highly volatile market.

The BSE Sensex settled 63.84 points lower at 48718.52, and the Nifty was up 3.10 points at 14634.20. About 1,803 shares advanced, 1,184 shares declined, and 162 shares remained unchanged.

Titan Company, Reliance Industries, IndusInd Bank, Axis Bank and BPCL were among the top losers on the Nifty. Gainers included SBI Life Insurance, Bharti Airtel, Adani Ports, Tata Steel and HUL. Reliance Industries lost over 2 percent on profit booking even as the company doubled its Q4FY21 profit on a year-on-year basis.

In the broader markets, BSE MidCap index, on the other hand, settled 0.05 percent higher. Sectorally, the Nifty Metal index rallied 2 percent today, followed by the Nifty FMCG index, up 1 percent. On the downside, the Nifty Bank index slipped 0.7 percent on the NSE.

Meanwhile, the Indian rupee erased intraday losses and ended near the day's high at 73.93 per dollar, amid volatile trade saw in the domestic equity market. The domestic currency opened 18 paise lower at 74.25 per dollar against the previous close of 74.07 and traded in the range of 73.91-74.33.

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