MUMBAI, Dec 1 (Reuters) - The Indian rupee was largely steady in afternoon trade on Monday despite the stock market rising more than 2 percent as a private-sector bank was buying dollars in the market, preventing the rupee's rise, two dealers said. * At 1:10 p.m., the partially convertible rupee was at 50.0625/0750 per dollar, marginally stronger from its previous close of 50.09/12. It had hit record low of 50.60 on Nov. 20. * Indian shares .BSESN rose as much as 2.2 percent, with sentiment supported by a reshuffle of key government ministers after last week's deadly attacks on Mumbai. See [.BO]. * Foreign funds have so far in 2008 sold a net $13.8 billion worth of Indian shares, after buying a record $17.4 billion last year. * Dealers said the market was closely watching the central bank, both for intervention to support the currency and for any extra policy measures such as a rate cut to shore up the economy and confidence. (Reporting by Swati Bhat; editing by Sunil Nair)

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