Mumbai, May 9 :    Mumbai, May 9:  The tragic trail of the post-budget bloodbath spread wider when Bimal S Gandhi, a 40-year-old broker who had staked out close to Rs 100 crore in audacious stock bets, hung himself to death from a ceiling fan at his home in downtown Colaba late on Tuesday. His death has jolted the market out of its short-lived euphoria which has been generated by the slow but steady gains recorded on bourses across the country in recent weeks. A prominent broker with rights to trade on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), Gandhi left behind no clues about the reasons for ending his life, though sources close to his brokerages said the market crash immediately after the budget left him devastated. He floated the El Dorado Group, a BSE and NSE-affiliated brokerage which traded in equity shares, and Dil Vikas Securities, a broking outfit that focused on the debt segment of NSE. El Dorado specialised in retail broking while DIL Vikas focused on trading in government securities and other debt instruments. In addition, he held a card for trading on Dalal Street. Gandhi, who was known to be a hard-working individual and a party animal who enjoyed late-night blasts with his friends, was part of the breed of younger, more aggressive brokers on BSE. Strangely enough, El Dorado's exposure on the BSE is believed to be a modest Rs 50 lakh. Even Gandhi's bank guarantees and other securities were three times more than what he was required to maintain under the exchange's rules. However, there are reports that he gambled heavily in vyaj badla transactions - a trading mechanism that allows rollover of speculative positions from one settlement to the other. The market, awash with rumours about what drove Gandhi to death, lent a keen ear to stories which said he piled up a massive buy position in Amara Raja Batteries, whose share recently plunged below Rs 100 after hitting a high of over Rs 300. Brokers say his broking outfits will remain closed for three days from Wednesday. Parekh kin gets bail A special court today granted bail to Kartik Parekh, a cousin of Big Bull Ketan Parekh, in the Rs 137-crore pay order scam. He was released today from CBI custody against a personal bond of Rs 5 lakh with a surety of an equal amount. However, Ketan Parekh and the manager of Madhavpura Mercantile Co-operative Bank's Mandvi Branch, J B Pandya, were remanded to judicial custody till May 21. Kartik has been told to report to the investigating agency's office twice a week.