MUMBAI (Reuters) - India's stock markets and rupee extended losses on Tuesday despite a rate cut announcement in the Reserve Bank of India's policy meeting, on what traders said was the central bank's cautious stance on further easing.
India's central bank cut its policy interest rate by a quarter percentage point on Tuesday, easing policy for a third time this year, in a move that was widely expected as policymakers try to put the improving economy on a firmer footing.
The Nifty extended losses to fall as much as 1.1 percent after the rate cut announcement. The index was down 0.9 percent at 11:15 a.m.
The rupee fell to 63.83 per dollar, having ended Monday at 63.72/73.
(Reporting by Himank Sharma; Editing by Anand Basu)
