New Delhi - A stockbroker in India's financial capital of Mumbai killed his pregnant wife before committing suicide due to the financial downturn, media reports said Wednesday.

Parag Tanna and his wife Neha were found dead by relatives in the city's Kandivali area Tuesday night, police told CNN-IBN network.

Police suspect that Tanna, who strangled his wife, had huge investments in the stock exchange and that his recent losses drove him to commit suicide.

The stockbroker wrote a suicide note saying he had taken the extreme step because he felt he would not be able to take care of his baby and buy a flat as he had planned.

"The reasons we are looking into include monetary problems and maybe he was heavily into debt due to his financial condition," the news channel quoted a senior police official as saying.

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

Scores of investors faced heavy losses after the benchmark Sensex crashed from all-time high levels in January.

Most of blue-chip stocks suffered sharp declines as the key index had lost more than half its value by Wednesday. (dpa)