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Page last updated at 07:57 GMT, Wednesday, 22 October 2008 08:57 UK

Indian broker kills self and wife

By Prachi Pinglay
BBC News, Mumbai

rupees
Rising inflation erodes the value of the Indian currency and investments

A stockbroker in India's financial capital, Mumbai, killed himself after strangling his pregnant wife because of the economic slowdown, police say.

Parag Tanna and wife Neha were found dead at home by Parag's mother when she entered their house with a spare key.

Mr Tanna left a suicide note in which he said he was upset at not being able to look after his family, police said.

Indian stock markets have lost nearly 50% of their value in the last eight months and continue to be volatile.

Mr Tanna invested heavily in the stock markets but suffered huge losses due to the recent market crash, police official Makrand Ranade told the BBC.

He allegedly strangled his pregnant wife and then hanged himself, police said.

Last month, a share broker had ended his life in the southern city of Hyderabad along with his wife and son after suffering financial losses.

The stock market has lost more than half its value this year, the rupee has fallen to new lows and cash flow problems have crippled banks, leading to jitters among investors.

Indian authorities have intervened with a slew of measures, including a lowering of interest rates by the Central Bank, to improve liquidity in the market.

However, Indian Prime Minister Manmohan Singh has warned that there could be difficult times ahead.




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