Markets crash aftermath: Stockbroker suicides

Indore, Sep 19: A stockbroker in Indore committed suicide allegedly due to pressures from the investors asking for their money in the wake of fall in share market.

Ravi Sharma, the 30-year-old stockbroker, with barely two years of experience of the intricate vistas of the share market, apparently fell victim of the steep fall in the share markets, which nose-dived after AIG and Lehman Brothers went bankrupt in the United States this week. "He incurred heavy loses during the recent slump in the share market. Some investors have been asking for their money," said Dheeraj Dubey, Ravi's maternal uncle.

Police has, however, not yet confirmed the reasons of his death.

"No suicide note has been recovered so far. We have inquired the family members. He was in the share business," said a police official.

Bombay Stock Exchange's 30-share benchmark index ended up 0.4 per cent, or2.70 points, at 13,315.60, its first rise since September 8.

Still, investors were not convinced they had the seen the worst of the global financial turmoil and the BSE index, which has lost more than 34 per cent so far this year, has bottomed out.

The seismic shift on Wall Street this week has triggered a flight of foreign funds from Indian shares. Withdrawals in September have reached 1.3 billion dollars, taking the outflow to 8.7 billion dollars in 2008.

ANI