India, Feb. 23 -- Indian equity benchmarks erased most of their initial gains and closed flat with a positive bias on Tuesday amid high volatility and tepid cues from global markets. The benchmarks had a gap-up opening, with report that a day after surging past the 150,000-mark, India's count of active cases has dropped to 148,882. On Monday, the country registered 10,792 fresh Covid-19 cases, taking its the caseload tally to 11,015,863. Traders took encouragement as India Ratings and Research has revised its outlook on the overall banking sector to stable for the fiscal 2021-2022 (FY22) from negative even as it sees higher stress emerging in the retail loan segment going ahead. For public sector banks (PSBs), the outlook has been revised t...