Stock market network reveals investor clustering

first_img(Left) Clusters of investors detected in a statistically validated network. Each investor is represented by a node whose color indicates the investor’s category. The most common investor category is households (cyan). (Right) The same clusters with reduced node sizes to emphasize the links, whose colors indicate the type of co-occurrence. For example, magenta links indicate the buy-buy co-occurrence. Image credit: Michele Tumminello, et al. ©2012 IOP Publishing Ltd and Deutsche Physikalische Gesellschaft More information: Michele Tumminello, et al. “Identification of clusters of investors from their real trading activity in a financial market.” New Journal of Physics 14 (2012) 013041. DOI: 10.1088/1367-2630/14/1/013041 Copyright 2012 PhysOrg.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed in whole or part without the express written permission of PhysOrg.com. Citation: Stock market network reveals investor clustering (2012, January 27) retrieved 18 August 2019 from https://phys.org/news/2012-01-stock-network-reveals-investor-clustering.html Explore further Now in a new study, with access to a database of thousands of investors’ trading activity of Finnish stocks, researchers have developed a network that allows them to identify investor clustering, or groups of investors that trade in a similar way. Clustering, which can also be thought of as herding, may eventually lead to the identification of trading patterns and strategies that collectively determine stock price.The team of researchers, Michele Tumminello, Fabrizio Lillo, Jyrki Piilo, and Rosario N. Mantegna, working at Palermo University in Palermo, Italy; Carnegie Mellon in Pittsburgh, Pennsylvania; Scuola Normale Superiore di Pisa in Pisa, Italy; the Santa Fe Institute in Santa Fe, New Mexico; and the University of Turku in Turun yliopisto, Finland, have published their study on identifying investor clustering in a recent issue of the New Journal of Physics.Statistically significant similaritiesThe researchers gathered their data from a database that records the daily trading activity for almost all major publicly traded Finnish companies. Under a special agreement with Euroclear Finland, which maintains the database, the researchers were able to access data from 1995 to 2008. The researchers focused on the trading activity of just one stock, Nokia, for a five-year period between 1998 and 2003 in all financial markets where the company is listed. During this time, 164,000 investors made more than 18 million transactions of Nokia. However, the researchers considered only those investors who traded Nokia stock on at least 20 days during the time period, reducing the number of investors to 11,000. These investors were responsible for 99.83% of the exchanged volume. Comparison of two statistically validated networks, with the same nodes but different links between them. The network on the left produced more links, and sometimes different link types, than the network on the right due to different levels of specificity. Image credit: Michele Tumminello, et al. ©2012 IOP Publishing Ltd and Deutsche Physikalische Gesellschaft This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Individual trading positively related to future returns Journal information: New Journal of Physics Using this data, the researchers then created a statistically validated bipartite network, a relatively new type of network. They began by building a bipartite system, which has two types of nodes: investors and trading days. The two node types can be connected by one of three link types: buy, sell, or both. For example, if investor 1 buys stock on day 1, then a buy link would connect those two nodes. Often there is no link between an investor and a trading day because the investor did not trade that day.In order to identify clusters of investors in this bipartite system, the researchers had to expand the system into a network of investors. Here, nodes only represent investors, and two investors can be connected by as many as nine different link types, since there are nine different combinations of two investors who each have three possible states. For example, one link type is when both investors buy on the same day, another is when both sell on the same day, another is when one buys and one sells, etc. Each link is weighted according to the number of days the two investors were described by the state characterizing that link. For example, when two investors are connected by a strongly weighted buy-buy link, it signifies that they both bought stock on the same days for many days.In order for the researchers to determine the similarity between two investors’ trading activities, they had to figure out just how strongly weighted a link has to be to indicate significant similarity. To do this, the researchers had to statistically validate each link against a suitable “null hypothesis,” which represents a default position, or statistical threshold where some similarity is expected. So when two investors’ trading activity is similar for more days than expected by the null hypothesis, the similarity rejects the null hypothesis and is statistically valid. There can be nine different types of these statistically valid similarities, or “co-occurrences,” as described above.Interpreting clustersWhen the researchers finished constructing this network (using two different statistical validation methods), the results showed that trading activity often occurs in clusters characterized by different types of co-occurrences. Both methods produced more than 300 clusters ranging in size from 2 investors to 500 investors in one method and 3,000 in the other. Within these clusters, investors traded in similar ways, with some clusters buying on the same days (buy-buy co-occurrence), some selling on the same days (sell-sell co-occurrence), and some doing both (combination buy-buy and sell-sell co-occurrence), etc. Interestingly, some clusters were dominated by investors belonging to specific categories. For example, household (individual) investors were over-expressed in a cluster characterized by buying on the same day, while financial and insurance corporations were over-expressed in a cluster characterized by selling on the same day.“I believe that the most interesting result is that in some clusters of investors we detect an over-representation of some types of investors – household, financial institution, etc. – belonging to it,” Mantegna told PhysOrg.com.The researchers also demonstrated that the statistically validated networks are not dependent on the length of the time period, and can be applied to shorter segments within the five-year period. They split this period into two segments: the bull period of 1998 to mid-2000 and the bear period of mid-2000 to 2003. Counterintuitively, both statistical methods identified a sell-sell co-occurrence in the bull period and a combination sell-sell and buy-buy co-occurrence in the bear period. This finding defies the intuitive expectation that the sell-sell co-occurrence should dominate the bear period more than the bull period.Applied to even shorter time periods, the more stringent of the two methods detected that trading activity changes in response to certain events. For example, trading activity increases after a stock splits and immediately after quarterly announcements. These observations can likely be attributed to the sensitivity of these statistically validated networks.“There are at least three main differences between our network and previous financial networks,” Mantegna said. “First of all, our network is the first one that has been proposed to describe the investment activity of single investors, including households, trading in a financial market. Second, our method is able to properly account for the heterogeneity of investors’ activity. In fact, differently from other approaches using correlation estimates among the inventory variation of single investors, our method works for single investors being active traders in a number of days ranging from 20 to 1,300, in other words a degree of heterogeneity of about two orders of magnitude in trading frequency. Finally our method is capable of detecting not only either correlation or anti-correlation between investors’ activity, but also mixed relationships between investors’ strategies, like for example a significant correlation of selling activity and, at the same time, a correlation of a day trading like buying and selling activity for the same pair of investors.”Overall, the results show that investors who are diverse in many ways still exhibit synchronized trading activity. In the future, the researchers plan to investigate the underlying causes of this synchronization, such as the use of similar strategies, influence from analysts, or communication among the investors themselves. The discoveries from such studies could lead to a better understanding of the dynamics of complex financial systems.“From our perspective, a key scientific question is whether an essential heterogeneity, or in other words an ecology of traders, is needed or not to observe an efficient price discovery process in financial markets,” Mantegna said. “In current economic theory, heterogeneity is summed up into a representative agent, but there is growing evidence that not all the heterogeneity can be reflected into the global action of a single rational agent.”Besides understanding markets on a large scale, this network could also have applications for investigating activity such as high-frequency trading with the potential to detect fraudulent patterns.“We have adapted this method to work at the level of a trade network of market members and/or single institutions trading at high frequency,” Mantegna said. “When high-frequency data are available, the method can identify regularities and patterns (not necessarily fraudulent behavior) in the high-frequency trading activity of market members and single investors. The method per se does not detect fraudulent trading activity but rather detects co-occurrences of trading activities in a robust statistical way. If there is a pattern of trading considered fraudulent by other means it might detect all the investors that have followed that pattern of trading irrespectively of their trading frequency (provided that it is not too low).” (PhysOrg.com) — The stock price of a company continuously changes, going up or down depending on the collective activity of a large number of investors. Although this process seems fairly straightforward, no one fully understands how this collective trading activity finds the “correct” price of a stock. Some theoretical models have been proposed to describe how different investment strategies affect price dynamics, but challenges such as investor confidentiality and complicated data mining make it difficult to gather empirical support for these models. Overall, the investors were extremely diverse in terms of their investment size, trading capabilities, etc. The researchers classified investors into six categories: households (individuals), non-financial corporations, financial and insurance corporations, governmental organizations, non-profits, and foreign organizations. The researchers also described each investor’s type of daily trading activity as one of three states: buying, selling, or both. last_img read more

Seismic air guns found to harm balance organ in rock lobsters

first_img © 2019 Science X Network Prior research has shown that human-created noise can have unexpected impacts on creatures that live in the sea—sonar used by submarines, for example, has come under fire for disorienting whales. In this new effort, the researchers have found that seismic air guns used by survey teams looking for oil or gas deposits can result in damage to the balance organ in rock lobsters.Seismic air guns are devices that release pressurized blasts of air into ocean water—the blasts are strong enough to penetrate the ocean floor, where they propagate as seismic waves. Exploratory teams pull a host of such devices behind a boat, setting off numerous blasts as they travel. As they do so, technicians aboard the boat monitor sensors that take readings of the impact of the blasts on the seafloor hoping to find oil or gas deposits. The blasts from seismic air guns have been described as the loudest human-made sounds in the ocean.To better understand what impact the seismic air guns might have on rock lobsters, the researchers collected several specimens and brought them into their lab for study. They note that in the water, seismic blasts create low-frequency sound waves. To test the impact of the seismic air guns on the lobsters, the researchers piped low-frequency sound waves into their tanks at the same low frequency as those created by seismic air guns. They then examined the lobsters, looking for possible impacts. They report that they found damage to the statocyst—a small organ made of statoliths. The purpose of the organ is to allow the lobster to keep its balance and to assist with orientation. They further report that due to the damage, the lobsters had difficulty righting themselves if turned over. They also noted that the damage remained for the duration of the study, which was a whole year. Explore further A team of researchers with the University of Tasmania and Curtin University has found that seismic air guns used for oil and gas exploration can damage a sensory organ in rock lobsters called the statocyst, which provides balance and orientation. In their paper published in Proceedings of the Royal Society B, the group describes tests they conducted with lobsters in their lab and what they found. Journal information: Proceedings of the Royal Society B This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.center_img Scientists warn Obama of marine life harm from seismic tests More information: Ryan D. Day et al. Seismic air guns damage rock lobster mechanosensory organs and impair righting reflex, Proceedings of the Royal Society B: Biological Sciences (2019). DOI: 10.1098/rspb.2019.1424 Citation: Seismic air guns found to harm balance organ in rock lobsters (2019, July 24) retrieved 18 August 2019 from https://phys.org/news/2019-07-seismic-air-guns-lobsters.html California spiny lobster (Palinurus interruptus). Picture taken by Magnus Kjærgaard in La Jolla, California. Creative Commons Attribution-Share Alike 2.5 Genericlast_img read more

Blue colour of the soul

first_imgThe Hungarian Information and Cultural Centre has organised an exhibition of spiritual paintings titled Planetary Consciousness by Hungarian artist Jeno Balogh that starts on 23 September.  The exhibition will be inaugurated by Prof. Om Prakash Sharma, artist, Former Principal of Delhi College of Art, New Delhi.Balogh expressed, ‘My paintings depict a world without people, warning that this is going to happen if we continue this way of exploitation to the Earth. I mostly paint with blue colour that is the colour of Planet Earth and also the colour of soul. However, I also use red that is the colour of Mars, a lifeless planet. For me painting is a token of energy, coming from my soul.’ Also Read – ‘Playing Jojo was emotionally exhausting’Jeno Balogh has  been painting for over 40 years now. He was the President of the local Art Association for 23 years and organised several charity exhibitions. He had a number of solo and group exhibitions in Hungary and abroad like Montevideo, Santiago de Chile, Rio de Janeiro, New Delhi. In Athens, he was awarded with a bronze medal at the Cultural Olympics. He is also a member of the International Artists’ Association and the Association of Greek Artists. Also Read – Leslie doing new comedy special with Netflix‘Save our Planet and Planetary Consciousness’ are the mottos that my art work is focused on. We have one planet only where we should live in an environment-conscious way and in peace to protect our Planet Earth. In order to be able to implement this consciousness in our daily life, one should have a mindful soul which, I think, people don’t possess anymore,’ explained Balogh. When: 23 September – 17 October Where: Hungarian Information and Cultural Centre, 1-A Japath Timing: 10 am – 4 pm (weekdays only)last_img read more

Dance drama and some more

first_imgThough feminism came much later in the last century the emotions have always been there in pervasive and prevalent form. In the performance of artiste Dimple Kaur, we can see the dreams and longing for love, which is beyond the realms of time and society and the practical reality of the dream, marriage which was beautifully captures in the poem Kuvanri (The Virgin) and is interpreted by the dancer in today’s manifestations of domestic abuse and marital rapes. Also Read – ‘Playing Jojo was emotionally exhausting’The psychological numbness and quietness is portrayed in the poem titled Chup, followed by the poem titled Mere Dost. Ae Mere Ajnabi is poem of hopefulness and yet the transitory nature of love and relationships. The cycle of love and pain continues as the longing intensifies. The next poem is about the undying spirit of the women Suraj Nu Sare Khoon Maaf Han and yet she says ‘I will meet you yet again…’ and I am Swatantra Rooh (A liberated soul). Also Read – Leslie doing new comedy special with NetflixKaur is a performing Indian Classical dancer practicing Bhaartanatyam and VilasiniNatyam dance forms. The artiste commented, ‘This is my unique attempt to bring out in a contemporary form the possibilities and emotions that can be stirred with Punjabi language and I sincerely hope and believe that this will be appreciated by the audience and it will also provide them with an opportunity to experience art and its manifestations in new language.’When: Today Where: Alliance Francaise, Lodhi Estate Ticket Price:  Rs. 500last_img read more

Late SI Amitava Malik to receive CMs Bravery Award 2017 posthumously

first_imgDarjeeling: Late Amitava Malik, Sub-Inspector of Police, will be awarded the Chief Minister’s Bravery Award 2017 posthumously. Other police personnel will also be receiving the Bravery Award and Shourya Padaks. Incidentally, the Darjeeling Hills had been in the grip of agitation since June 8, 2017 which included a 104-day bandh which had ended on September 26. There were incidents of violence, arson, explosions and rioting. As the agitators locked horns with security personnel, 13 lives were lost during the period of agitation. Also Read – Heavy rain hits traffic, flightsOn October 13, 2017, a police team had raided the jungles of Shirubari forest on the banks of Chota Rangeet river, 25 km from Darjeeling, in search of GJM president Bimal Gurung. There was an alleged exchange of fire between the police and Gurung’s supporters. SI Malik, who was in hot pursuit, fell prey to a bullet allegedly fired by Gurung’s supporters.A huge cache of arms, ammunition and explosives were recovered by the police from the spot. His wife was later given a job in the police department. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedAlong with Late Malik, other awardees of the Chief Minister’s Bravery Award include Akhilesh Chaturvedi, Superintendent of Police, Darjeeling; Soumyajit Roy, IC Sadar, Darjeeling and SI Abhijit Biswas of Sadar PS, Darjeeling.The recipients of the Shourya Padak 2017 include Nagendra Nath Tripathi, Commandant, SAP (10th Battalion;) Amarnath K, SP (Operations,) Darjeeling; Rahul Pandey, DSP (HQ,) Darjeeling; Kiran Tamang, Assistant Commandant, 2nd IRB and Shyamal Barman, Constable, SAP.Assistant Commandant Kiran Tamang was critically injured on June 17 during sporadic clashes between the GJM supporters and the security forces. The Army had to be deployed on that day to bring the situation under control. The list was notified by Alok Kumar Bhaumik, OSD and Ex-officio Joint Secretary to the government of West Bengal.last_img read more

Private tutor held for beating up child with hot spatula

first_imgKolkata: Police have arrested a private tutor for allegedly torturing a 5-year-old boy. The incident occurred at Howrah’s Belur.Police said the victim boy, a student of a private English medium school in Belur, used to take private tuition with a local teacher for sometime. On Thursday, the victim, who is an upper KG student, went to the tuition after returning from school. The victim told the police that the teacher asked him certain questions which he had failed to answer. This made the woman teacher angry and she brought a hot cooking spatula from the kitchen and started beating up the boy with the same. Also Read – Rain batters Kolkata, cripples normal lifeThe child has burn marks on his upper arms, knees, fingers, thigh and both palms after the home tutor tried to harm the child the with hot spatula.There are some injuries on his body as well.Locals staged a demonstration in front of the house of the accused teacher after the matter came to light.The victim was wreathing in pain after being beaten up.The victim fell seriously ill following the incident. The family members later lodged a complaint at the local police station on Thursday night following which the police raided the accused’s house and arrested her in this connection.last_img read more

24 units to come up in Cooch Behar Industrial Growth Centre

first_imgKolkata: With the development of necessary infrastructure in the industrial growth centre in Cooch Behar’s Chakchaka, 24 units producing different types of goods will start functioning within the next few months. It will lead to the generation of around 2,156 jobs.Amit Mitra, the state Commerce and Industry minister, in the Assembly on Tuesday said 24 units will come up in the industrial growth centre on a land of 20.68-acre.He said authorities of the companies, who will set up 21 out of 24 units, have already made the payment that is required to set up the units. Also Read – Rain batters Kolkata, cripples normal lifeThey have also got the plots where the units will come up and it is expected that the units will start functioning in the next eight to ten months.The 21 units will be set up on around a land of 16.51 acre in the industrial growth centre. He further said: “There will be generation of 2,038 jobs in the 21 units.” In the same breath, Mitra said as per the detailed project report, there will be a total investment of Rs 6831.98 lakh. For the 21 out of 24 units, there will be an investment of Rs 5886 lakh. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedIt has also been stated that the authorities of the remaining three units will take the necessary move forward soon to set up their units in the industrial growth centre.It may be mentioned that the industrial park at Chakchaka was set up during the Left Front regime and it was actually developed as a Jute Park. But there was no proper infrastructure. As a result, it failed to attract investment.After the change of guard, the Mamata Banerjee government took initiative and given a major facelift to the Jute Park and developed it as an industrial growth centre where units for production of different products can be set up instead of only jute factories.Mitra said: “Our government has developed infrastructure including 1.85 km long road, 56 street lights, laying of pipeline for a stretch of 1.2 km, overhead water reservoir for supply of safe drinking water, surface drainage system, power sub-station and administrative office in the industrial growth centre and it played a key role in attracting more investment.”last_img read more

Stop treating Google as your doctor

first_imgAre you among those who log in to Google every time you are down with body ache, fever or cold, only to get more confused and scared? Many young Indians with smartphones in their hands are falling prey to the “Google-as-your-doctor” phenomenon and the dangerous trend is on the rise in the country, health experts feel.Although there is nothing wrong in checking your symptoms or trying to find more about your illness on the internet, they say that one should know where to stop. The ideal situation is to use search engines only when someone is diagnosed with a certain medical condition and wants to know more about it. The information available on internet should be used to educate oneself rather than trying to find a cure for the disease. Also Read – ‘Playing Jojo was emotionally exhausting’“The biggest problem is that internet is loaded with enormous information which could be correct too but then your symptoms could be similar to some other disease which may cause confusion. Therefore, correct diagnosis of your health abnormality is very important,” said Dr Satnam Singh Chhabra, head (neuro-spine surgeon) at the Sir Gangaram Hospital.He has observed many young Indian adults getting hooked to the internet to look for every little thing, even self-diagnosis. For instance, if one has a health abnormality, then the instant reaction is to Google the symptoms before seeing an expert or a doctor. Also Read – Leslie doing new comedy special with Netflix“But one should be careful as people normally look for symptoms to get rid of curiosity and anxiety but to the contrary, it just worsens the scenario and leaves them more anxious,” Chhabra said.According to Dr (Prof) Raju Vaishya, senior consultant (orthopaedic and joint replacement surgeon) at Indraprastha Apollo Hospital, one should beware of getting trapped into “Google as your doctor” behaviour as this may cause more harm than good.“Yes, there is an increasing surge in young Indians with smartphones who google common health symptoms. I find more such patients coming to me with queries related to hand, wrist and elbow,” said Vaishya.  Dr R K Singal of the BLK Super-specialty Hospital had an interesting case study to share: “Once a patient in his mid-30s came to me with severe headache. He told me that he thought he had a brain tumour. After diagnosis, we found that headache was due to prolonged sore throat and rhinopharyngitis (common cold).” “The patient visited me after a month of self-diagnosis through internet. Whatever he found on the internet made him believe that he had a brain tumour,” said Singal.According to Singal, people in the 25-40 age group are more hooked on to the internet and such self-diagnosis only increases one’s anxiety. Dr. Rahul Gupta, senior neuro and spine surgeon at Fortis Hospital in Noida, is attending to many young Indians who come to him with weird health queries after scanning Google. “Self-medication via the internet can be dangerous. Patients at times do not follow our advice and waste our time with silly questions,” he stressed.Another danger of self-diagnosis is that you may think that there is more wrong with you than there actually is.“For example, if you had insomnia, inattention and depression, you may believe that you have a sleep disorder or major depression. Thus, you may make things worse by worrying more as well,” Singal noted.Self-diagnosis is also a problem when you are in a state of denial about your symptoms. One may think that generalised body aches started with a worsening of mood, but a doctor may elect to do an electrocardiogram for chest pain that reveals possible coronary artery disease, the experts felt. Are health websites trustworthy when it comes to answering health symptom queries? “I don’t see any harm in doing that because it’s about your health after all. In fact, a lot of times my patients come back with queries after surfing about their health abnormality on the internet,” Chhabra said. So, educate yourself as much before or after you visit your doctor, but let the experts do their job. Let your doctor prescribe you a treatment well-suited for your ailment.“One should be wise enough to understand which is an authentic website with relevant content as there are a lot of paid sites which exist only to make business,” Chhabra advised. Vaishya asked youngsters to share their internet-acquired knowledge with the doctor but not to force it upon the doctor to follow it.“Trust your doctor more than Google,” Gupta summed up.last_img read more

Baluchari silk makes comeback in Bengal thanks to state project

first_imgKolkata: The sale of Baluchari silk has seen a sharp spike in Bengal, after the state government launched the ‘Baluchari’ project a few years ago, aiming to revive the textile which harks back to the colonial times.”In collaboration with the West Bengal State Handloom Weavers’ Cooperation Society (Tantuja), the Directorate of Textiles had launched the Baluchari project, which has been a major success. The sale of this particular kind of silk has increased on a major scale as we roped in weavers from Bishnupur, who blended some old and new designs, keeping in mind the current trend and demands of the consumers,” said Director of Textiles Debasis Ghosh on Wednesday. Also Read – Bose & Gandhi: More similar than apart, says Sugata BoseBaluchari, a quintessential textile of Bengal, which found a home in Bishnupur of Bankura district after its place of origin Baluchar in Murshidabad, had succumbed to the vagaries of nature. Even in Bishnupur, the design, looms, weaving technique and the thread used underwent drastic change with time, leaving the originality of the textile in shambles. In such a scenario, the Baluchari project has aided its grand revival, with the hike in sales figures. Also Read – Rs 13,000 crore investment to provide 2 lakh jobs: MamataGhosh further said: “After the launch of the project, the West Bengal State Handloom Weavers’ Cooperation Society eventually undertook its marketing duties and launched an exclusive showroom in Park Street which specialises in Baluchari silk, among others. The annual turn- over of the showroom has reached crores.” Tantuja procures handloom fabrics from cooperative societies and artisans through 12 procurement centres and two training-cum-production centres. It has 83 sales outlets all over India. Speaking about the initiative taken by the government to help the farmers in cultivation of silk, the extension officer of the directorate of textiles Partho Pratim said: “There are 59 government sericulture farms in Bengal which cultivate superior-quality seeds. These seeds are then given to the farmers at a subsidised rate, who then produce the raw silk. When the raw silk is sold in the market, the farmers earn good revenue. The weavers who buy the raw silk spin it into sarees, shawls and other garments.”last_img read more

Police should take suo motu action against BJP leaders for encounter comment

first_imgKolkata: West Bengal Chief Minister Mamata Banerjee said on Wednesday the police should take suo motu cognizance against those BJP leaders who advocated the “Uttar Pradesh model” of encounters in the state to wipe out criminals. Banerjee also condemned the lynching incidents across India, saying the country belonged to each and every citizen irrespective of his or her caste, creed and religion. “Some BJP leaders are threatening to conduct encounters in West Bengal. I don’t know why the police did not file a suo motu case against them and take action. The police should take suo-motu cognizance,” she said while speaking on the floor of the assembly. Also Read – Rs 13,000 crore investment to provide 2 lakh jobs: Mamata The Trinamool Congress supremo’s comment came in the backdrop of two senior state Bharatiya Janata Party leaders saying on Monday that the party would follow the “Uttar Pradesh model” of giving free hand to the police to wipe out criminals in encounters if it comes to power in the state. Referring to the incidents of lynching in the country, the chief minister said: “I strongly condemn what happened in Jharkhand. People are living in fear. They are killing people.” Also Read – Lightning kills 8, injures 16 in state Tabrez Ansari, 24, was allegedly tied to a pole and thrashed with sticks by a mob in Jharkhand’s Seraikela Kharsawan district last Wednesday on the suspicion of theft. The newly-married youth was purportedly seen in a video being forced to chant “Jai Shri Ram” and “Jai Hanuman”. He succumbed to his injuries on Saturday. Banerjee accused the BJP of promoting communal divide in the country. “The country is for all — for Muslims, Hindus, Chirstians, Jains, Sikhs. I fear that the BJP might change the Constitution,” she said. “Is it a fault of someone to be born in a certain religion or caste? Is it my fault that I have a certain surname?” “The Union Home Ministry is sending advisories to Bengal over law-and-order issue. But what about the law and order issue in Uttar Pradesh, Jharkhand or Haryana? Did they send any advisory to these states? The answer is no. This (sending of advisories) is politically motivated to malign Bengal,” she said. The chief minister said the administration would take stern action against those who indulge in engineering riots and spread fake news. Banerjee claimed that the entire administration was taken over for the past six months by the Election Commission because of the Lok Sabha election, accusing the poll body of functioning at the behest of the BJP. “I admit that there were some gaps in last six months as the entire administration was taken over by the EC. Just like in other part of the country, the BJP has undermined each and every institution in the state,” she said.last_img read more