Indian shares extend losses to 1 pct

MUMBAI, June 30 (Reuters) - Indian shares extended losses to more than 1 percent on Tuesday afternoon, weighed down by uncertainties about next Monday's federal budget.

Reliance Industries (RELI.BO) dropped 2.3 percent and ICICI Bank (ICBK.BO) fell 3 percent as investors took profits.

At 12:31 p.m. (0701 GMT), the 30-share BSE Index .BSESN was down 1.01 percent at 14,636.45 points with 20 components losing. It had risen as much as 0.8 percent in early trade.

The 50-share NSE Index was down 1.18 percent at 4,339.15 points. (Reporting by Janaki Krishnan)