Mumbai: The BSE benchmark Sensex extended its losses for the seventh straight session, losing over 128 points in early trade on Friday on sustained selling amid a weakening Asian trend.

The 30-share BSE Sensex, which has lost over 1,107 points in the past six sessions, fell further by 128.62 points, or 0.78 per cent, to 16,333.09 in the first five minutes of trade, led by refinery and metal stocks.

In a similar fashion, the 50-share National Stock Exchange Nifty index declined by 41.20 points, or 0.83 per cent, to 4,893.55 points.

The trading sentiment was bearish following fall in Asian stock markets amid deepening euro-zone debt crisis.

Lower than market expected second quarter earnings by leading companies further influenced the trading sentiment.

In the Asia region, Hong Kong's Hang Seng index was trading 1.36 per cent lower, while Japan's Nikkei shed 1.33 per cent in morning trade. The US Dow Jones Industrial Average lost 1.13 per cent in Thursday's trade.