We employ the event study methodology and simple descriptive measures to examine the performance of the Norwegian stock market before and in the first three months after the implementation of the lockdown policy in March 2020. Most of the financial losses occurred before the lockdown decision was made. In general, price volatility has been higher since the lockdown compared to the prior period. The information technology sector has performed best in the post-lockdown period, whereas the energy and finance sectors have performed worst. However, the finance sector has had a significant recovery in the post-event period. Among the marketplaces, Oslo Axess performed best in the month following the lockdown and has also experienced less volatility than Oslo Børs. A noticeable finding is that companies with headquarters in Norway have rebounded far better than those with headquarters abroad in the post-lockdown period.

Keywords: Norwegian stock market, COVID-19, Coronavirus, Abnormal returns, Event study, Volatility