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Coronavirus: Panic mood on NSE, market capitalisation loses N308 billion

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Trading on the Nigerian Stock Exchange (NSE) on Friday ended on panic mood, as the country recorded the first Coronavirus case after Egypt and Algeria.

The News Agency of Nigeria reports that the panic mood affected trading on the exchange with the market recording only two gainers against 41 losers.

Commenting on the development, Mr Ambrose Omordion, Chief Operating Officer, InvestData Ltd., said the Coronavirus news heightened the negative sentiment already in the market. Omordion said the issue should be contained the way the previous administration fought Ebola, as the World Health Organisation and others continued to look for solutions to put an end to the virus.“The market and economy of China where it started is already recovering as over 35,000 people have been discharged from the hospital.

 

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