Himal Press 
KATHMANDU: The Nepal Stock Exchange (Nepse) posted a gain of 53.03 points – the highest gain in 35 trading sessions – as investors returned back to the stock market after the government clarified that earnings made in the secondary market would not be subject to income tax.
Presenting the budget for the fiscal year 2023/24 in parliament last week, the government proposed to levy income tax on earnings from securities transactions. This decision was met with immediate protests from investors, leading to a decline of 53.16 points in the benchmark index in the first trading session after the budget speech.
The trading activities on the exchange were disrupted for nearly an hour on Sunday due to investor protests. However, investor confidence was restored after the finance ministry issued a statement on Sunday, clarifying that capital gains tax (CGT) would be the only tax imposed on share earnings. Nepse index ultimately closed 2.84% higher at 1,919.37 points.
All trading groups ended the day with gains, with the Hotels & Tourism group experiencing the highest increase of 7.37%. The Non-Life Insurance and Hydropower sub-indices also saw positive growth, rising by 4.54% and 3.93%, respectively.
Shivam Cement emerged was the most traded stock of the day, with shares worth Rs 158.15 million exchanged. Soaltee Hotel Limited and Chilime Hydropower Company Ltd followed were next on the list with turnovers of Rs 81.31 million and Rs 65.50 million, respectively.
Shares worth Rs 1.65 billion were traded on Sunday. The total market capitalization reached Rs 2.8 trillion.
