This is the noun basket with the verb to obscure placed inside it. Hence, the definition is a covered basket.
Illustrative Text Reference:
Mohenjo-daro: Seal: M-1707 a: Asko Parpola, B. M. Pande, and Petteri Koskikallio, 2010: Corpus of Indus Seals and Inscriptions: Volume 3,1: Page 23: New material, untraced objects, and
collections outside India and Pakistan: Suomalainen Tiedeakatemia.
There is only one extant example of this Indus sign.
Indus Script Sign Number 357: Sign List of the Indus Script: Iravatham Mahadevan, 1977: The Indus Script: Texts, Concordance and Tables: The Director General Archaeological Survey of India.