Maharashtra man loses Rs 16 lakh in stock market, ends life

A 28-year-old man from Nashik, Maharashtra died by suicide on Wednesday after he allegedly suffered a loss of Rs 16 lakh in the stock market. The deceased, identified as Rajendra Kolhe, was employed with a renowned insurance company in Nashik and had invested heavily in the markets, the police said.

According to the Satpur police, the man took the extreme step near a ground in Pimpalgaon after visiting the Trimbakeshwar temple in the evening.

Though villagers rushed him to the district hospital Kolhe died in the night, the police said.

“Prima facie it appears that he was upset due to the financial setback due to which he took the extreme step. We will be recording statements of family members to get further clarity on the issue,” said an officer at Satpur police station.