India's Nifty 50 falls nearly 1% in early trading

India's Nifty 50 index dropped nearly 1% during pre-open trading, while the rupee faced downward pressure. Traders indicated that the Reserve Bank of India was probably offloading US dollars in an effort to limit the currency's decline, signaling that policymakers continue to aim at reducing turbulence as the local market starts the session on a weak note.