The BSE benchmark Sensex extended losses and fell by nearly 55 points in opening trade today. It was trading at 15,585 down by over 114 points a short while ago.Similarly, the wide-based National Stock Exchange Nifty index declined by 11 points, to trade at 4,695.Brokers said the market sentiment remained distinctly bearish as funds and retail investors engaged in offloading stocks on concerns over high inflation, slowing growth and a depreciating rupee.A weakening trend on other Asian bourses in line with overnight losses at the US market also impacted the trading sentiment.In the Asia region, Hong Kong's Hang Seng index was trading 0.79 per cent lower, while Japan's Nikkei shed 1.51 per cent in morning trade today.The US Dow Jones Industrial Average lost 2.05 per cent in yesterday's trade.