Casablanca Stock Exchange Closes Week on a Downward Trend
The Casablanca Stock Exchange concluded the trading week of September 2nd to 6th with a slight decline. The leading index, MASI, dipped by 0.16%, settling at 13,911.35 points.
This downward trend was mirrored by the MASI.20, an index reflecting the performance of 20 prominent companies listed on the exchange. It experienced a decrease of 0.22%, reaching 1,127.77 points. Similarly, the MASI.ESG, which tracks companies with strong Environmental, Social, and Governance (ESG) ratings, fell by 0.87% to close at 1,004.11 points.
However, it wasn’t all doom and gloom on the Casablanca Stock Exchange. The MASI Mid and Small Cap, an indicator of the performance of small and medium-sized enterprises (SMEs), bucked the trend. This index saw a gain of 0.92%, reaching 1,297.17 points, highlighting the resilience of this segment of the market.
Total trading volume for the week reached 1.42 billion Moroccan Dirhams, primarily generated within the central market. The overall market capitalization stood at over 720.61 billion Dirhams.
Individual Stock Performance: A Mixed Bag
Looking at individual stock performance, Maroc Leasing experienced the most significant decline, dropping by 10.46% with a trading volume of 376.05 million Dirhams. Other notable losers included Cartier Saada (-6.73%, 37.81 million Dirhams), Rebab Company (-6.19%, 70.26 million Dirhams), IB Maroc.com (-6.16%, 39.94 million Dirhams), and AFMA (-5.43%, 1.201 billion Dirhams).
On the flip side, Zilije led the pack with an impressive surge of 33.6%, reaching a trading volume of 141.55 million Dirhams. Stokvis Nord Afrique followed suit with a 14.08% increase (16.2 million Dirhams). Other strong performers included Les Mécaniques Modernes (+13.28%, 539.9 million Dirhams), Dyar Al Mansour (+13.23%, 35.1 million Dirhams), and Jet Contractors (+10.13%, 837 million Dirhams).
This mixed performance on the Casablanca Stock Exchange reflects the complex interplay of various factors impacting the Moroccan economy. While some sectors face headwinds, others demonstrate resilience and growth potential, offering investors a diverse range of opportunities.
