The Indian rupee extended losses in afternoon trade on Thursday tracking a drop in the domestic share market while mixed cues from the dismal industrial data and lower-than expected inflation failed to provide clear direction. * At 2:30 p.m., the partially convertible rupee was at 48.77/78 per dollar, weaker than Wednesday's close of 48.69/70. * Indian shares .BSESN were down about 1.5 percent, pulled down by losses in other Asian markets and as sentiment weakened on uncertainty ahead of an interim budget due early next week and dismal economic data. * India's industrial output fell 2.0 percent in December from a year earlier, below the previous month's revised 1.7 percent rise. The figure was below a forecast for an annual rise of 1.3 percent, according to a Reuters poll of economists. [ID:nDEL002561] * India's wholesale price index rose 4.39 percent in the 12 months to Jan. 31, below the previous week's annual rise of 5.07 percent. It was just below a median forecast in a Reuters poll of analysts of 4.43 percent.

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