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ABSTRACT
This study investigates the relationship between COVID-19 confirmed and death cases and Nigerian stock market. Daily recorded secondary data that cover a 8-month period covering March to October 2020 were derived from the Nigerian Stock Exchange, Nigeria Centre for Disease Control websites.
The data was modelled using Pearson Correlation coefficients and for analysis, the SPSS program for statistical analysis was used to generate statistics and different plots for the data as well as the Vector auto regression model was employed for statistical analysis. The results show that the confirmed and death cases of COVID-19 have mixed relationship with the Nigerian stock market index, while the global announced cases demonstrate inverse relationship with the Stock market and the hypothesis was tested at 0.05 level.
The study concludes on the need for proactive media programmes by the government and the stock market leadership, to find immediate solution to sudden short-run effect of such unforseen world health crises on sustainable growth of the Stock market due to abrupt end of markets activities.
