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Indian shares closed little changed in a volatile session on Monday, as a rise in information technology and financials offset concerns over weak earnings and foreign outflows.

The NSE Nifty 50 slipped 0.03% to 24,141.3 points, while the BSE Sensex inched up 0.01% to 79,496.15.

The indexes swung between 0.8% gains and 0.6% losses through the day.

"The fluctuations in the markets have created difficulties for market participants. The recent selling activity by foreign investors has been a cause for concern," said Sameer Chavan, head of research at Angel One.

Investors are indecisive and they are likely to refrain from aggressive trades until the overall market trend becomes clear, two other analysts said.

Lacklustre earnings and outflows pulled the Nifty 50 down by just over 8% from the record high it hit on Sept. 27, and Indian equities have seen about $13 billion of foreign outflows in the last 30 sessions.

The more domestically focused small- and mid-caps underperformed the benchmarks, losing 1.2% and 0.9%, respectively.

Six of the 13 major sectors advanced. IT companies, which earn a significant share of their revenue from the U.S., rose 1.3% and were the top sectoral gainers.

The IT index has gained 5.4% in four sessions, helped by Republican Donald Trump's victory in the U.S. presidential election, due to potential corporate tax cuts.

The Federal Reserve's positive outlook on U.S. economy is also triggering buying in IT sector, analysts said.

Meanwhile, financial services gained 0.5%, led by an 7.2% jump in Power Finance Corporation, which posted a rise in quarterly profit.

Biocon rose 8.5% after the U.S. drug regulator classified the drugmaker's unit in Bengaluru for voluntary action, implying that the facility is satisfactory.

Asian Paints fell 8.2% after reporting a profit drop.

Among sectors, metals fell 1% as top consumer China's stimulus measures fell short of investors' expectations, dragging base and ferrous metals. [MET/L] [IRONORE/]