MUMBAI: Benchmark indices Sensex and Nifty climbed in early trade on Monday, extending their previous session's sharp rally, amid easing oil prices.

The 30-share BSE Sensex rallied 178 points to 72,627.86 in early trade. The 50-share NSE Nifty climbed 76.20 points to 22,591.45.

From the 30 Sensex firms, Bharat Electronics, Mahindra & Mahindra, Bajaj Finance, Trent, Tata Steel and NTPC were among the major winners.

Tech Mahindra, Bharti Airtel, ITC and Axis Bank were among the laggards.

Brent crude, the global oil benchmark, declined 1.45 per cent to USD 103.1 per barrel.

In Asian markets, South Korea's Kospi traded sharply lower, while Shanghai's SSE Composite index also quoted lower. Hang Seng index traded marginally higher.

US markets ended higher on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,568.90 crore on Friday, according to exchange data.

On Friday, the Sensex jumped 879.09 points, or 1.23 per cent, to settle at 72,472.33. The Nifty rallied 288.65 points, or 1.30 per cent, to end at 22,520.45.