MUMBAI (Reuters) - The BSE Sensex is down around 250 points and Nifty down around 80 points on Tuesday after the DMK pulled out of the ruling UPA coalition and after the RBI issued a statement that was seen as cautious on future rate cuts.
The political uncertainty came on the day Reserve Bank of India cut interest rates but disappointed investors with a statement seen as cautious on monetary policy.
The rupee weakened to as much as 54.36 per dollar and was last trading at 54.25 as of 1:31 p.m. from around 54.06/07 before the RBI decision and statement.
(Reporting by Mumbai markets team; Editing by Anupama Dwivedi)
