KATHMANDU, March 26: Police have arrested representatives of Share Investor Pressure Group, who had been staging a sit-in at Bhadrakali-based office of Nepal Stock Exchange.

The group staged the sit-in, saying its demand put forth for development of share market was not addressed.

Police arrested 10 group members at a time when they were ready to stage a sit-in at the gate of the Stock Exchange Office.

Superintendent of Police, Basudev Khatiwada, said that the group members were arrested as Singha Durbar area is prohibited area for launching demonstration and agitation.

A group member Tilak Koirala said that police brought them under control by using force while they were staging a peaceful sit-in to draw the attention of the body concerned, demanding to implement the past agreement signed by Finance Ministry. RSS

KATHMANDU, June 6: The government has withdrawn its decision to revise the capital gains tax (CGT) threshold on the sale of bonus and rights shares following the criticisms from various quarters.

The Inland Revenue Department (IRD) last week had issued a directive to charge CGT as per the Income Tax Act 2002, according to which, the investors needed to pay capital gains tax on the sale of rights and bonus shares on the basis of the market value of the company’s shares.

Following the IRD’s directive on calculation method, Nepse had started imposing the CGT on the sale of bonus and right shares as per the new calculation method.

But the share investors had staged protest demanding the government revoke its decision saying that they, as per the new calculation formula, would have to pay the capital gains tax even if they bear loss while selling their shares.

After the share investors boycotted the trading the stock market had come to a complete halt on Tuesday.

Ministry of Finance on Wednesday wrote to the IRD directing them to calculate the CGT using the previous formula.

The government will now calculate CGT using the previous formula, according to which, the investors used to pay 5 percent of CGT on the sale of the bonus and right shares calculated after reducing the price gained from selling the shares from the adjusted price of such shares.

According to the new calculation method, the CGT would be calculated after reducing the market price of bonus and right shares from the face value.

KATHMANDU, Feb 24: The Nepal Stock Exchange (NEPSE) index dipped 26.92 points to sit at 1,386.98 points on the last day of the week’s trading today.

Likewise, the sensitive index also plummeted 5.91 to stand at 293.25 as compared to the first trading day.

A total of 4.24 million shares of 176 companies worth Rs 1.70 billion were traded throughout the week, 10.75 percent increment as compared to the last week trading.

Last week, a total of 3.79 million shares of 179 companies worth Rs 1.54 billion were traded. RSS

KATHMANDU, Oct 9: The domestic share market has experienced the fall by 8.12 points today.

With this fall it has reached 1501 points, according to Nepal Stock Exchange. The share market opened on Sunday after long Dashain vacation and fell by 32 points on Sunday.

Similarly, the sensitive index measuring the shares of big companies has also gone down by 1.53 points. Shares of all groups except some groups have fallen today. A total of 643,005 units of share of 152 companies were traded at Rs 316.8 million.

However, transaction of other groups has increased today, according to Nepal Stock Exchange.

Share of bank has fallen by nine points, of hotels by 1.6 points, of the development banks by 12.63 points, of hydropower companies by 6.29 points, of insurance companies by 47.27 points and of the financial sector by 8.14 points.

Securities Board of Nepal has, through a notice, urged the investors to remain alert against the tendencies manipulating the share market. RSS

KATHMANDU, July 8: Nepal Stock Exchange is set to adopt online system for its entire transactions from coming November 7.

The information was shared at a press conference held in the capital on Friday.

On the occasion, NEPSE Chief Executive Officer Sitaram Thapaliya shared that a process has been initiated to bring the entire share market to online system and it is now put on trial.

NEPSE had signed a deal with a company in line with the Public Procurement Act and Regulation for the setup of its fully automated online system.

CEO Thapaliya has started DMAT transactions of classified securities, expanded broker sections in rural areas and devised measures to increase investors’ access to investment. RSS

KATHMANDU, June 18: Having suffered a decline in past few days, Nepal Stock Exchange continued to fall by double-digit today. According to the Nepse, the market slid down by 13.61 points to 1,575 points.

A total of 843,912 shares of the total 143 companies were traded worth Rs 590 million, the Nepse said. Sensitive Index has also decreased by 1.95 points.

Banking group plunged by 17.4 points, hotel by 18.36 points, development bank by 10.93 points and hydropower by 31.28 points.

Likewise, finance dipped by 0.85 points, insurance company by 14.74 points, production companies by 8.73 points and other by 1.74 points. RSS