Balasore: More than 20 shops were reduced to ashes after a major fire broke out at Paschimabad market in Jaleswar block of Odisha's Balasore district in the early hours of Sunday. Properties worth over Rs 5 crore are feared to have been destroyed in the incident.

According to reports, locals first noticed flames and thick smoke billowing out of several shops at the Gothana Haat market around 3.30 am. The concerned traders rushed to the spot and attempted to control the blaze, and also informed the fire services department.

However, by the time fire tenders reached the market, nearly 20 shops had already been completely gutted. The exact cause of the fire is yet to be ascertained.

Reports said goods and properties worth more than Rs 5 crore were destroyed in the blaze.

Locals acted swiftly to prevent the fire from spreading to nearby shops, thereby averting a bigger mishap.

Police have started an investigation into the matter.