Mumbai, May 28 -- The Indian rupee pared losses and settled on a flat note at 85.40 (provisional) against the US dollar in a volatile trade on Wednesday amid rising crude oil prices and a negative trend in domestic equities. Indian shares ended modestly lower on Wednesday, extending losses for a second straight session in the wake of fund outflows due to large block deals and increased primary market activity. The benchmark 30-share BSE Sensex dropped 239.31 points, or 0.29 percent, to 81,312.32 while the broader NSE Nifty index ended down 73.75 points, or 0.30 percent, at 24,752.45. Increased month-end dollar demand added strength to the American currency, keeping the local unit under pressure, while investors also moved cautiously await...