Mumbai: Led by Hindustan Petroleum Corporation Limited (HPCL), public sector unit (PSU) stocks witnessed heavy sell-off, pushing the SENSEX further down at early stages of the morning session on the Bombay Stock Exchange (BSE) on April 25.

Reacting negatively to reports that the controversial issue of disinvestments in HPCL and Bharat Petroleum Corporation Limited (BPCL) rocked the Lok Sabha on April 24 forcing its abrupt adjournment for a day, investors pressed heavy sales in key PSUs, particularly in oil majors HPCL and BPCL.

Besides HPCL and BPCL, RCF, BHEL, BEH, ITI Ltd, SCI and a few others were quoted sharply lower due to selling pressure by operators as well as institutional investors.

However, some blue-chip counters like Castrol, Glaxo, Grasim Ind, HCL Tech, Hero Honda, Ranbaxy Lab and Zee Tele showed moderate gains on buying support.

Reflecting the trend, the BSE sensitive index opened marginally down at 2,935.08 as against April 24 close of 2,937.23 and later dropped to a low at 2,922.31 before being quoted at 2,931.73 at 10.30 am (IST).

PTI