This is a composite character. Firstly, there is a pictograph of a container with handles, which is an ideograph for the verb to carry. Secondly, one counting rod has been added. The counting rod
tells us that a small load was being carried.
Illustrative Text Reference:
Lothal: Seal: L-48 a: Jagat Pati Joshi and Asko Parpola, 1987: Corpus of Indus Seals and Inscriptions: Volume 1: Page 249: Collections in India: Suomalainen Tiedeakatemia.