Place Casablanca fence downturn, penalized by the Banks and Telecoms

Casablanca (Stock Exchange) – The Casablanca Stock Exchange closed the decline in Wednesday’s meeting of its overall index, Masi, 0.23 pc, following the losses that affected large cap stocks within the sector including banking and telecoms.

Apart from a brief stint in positive territory at 11am GMT, the place barometers have remained in the red zone throughout the session to end at almost the same level as the opening, the Masi 10,489.51 cash items and the Madex stood at 8609.70 point (-1.8 pc).

The trend is confirmed by the international FTSE CSE Morocco 15, comprising the most liquid caps, which dropped 0.10 per cent below the 9400 point, and the FTSE CSE Morocco All-Liquid withdrawn 0, 12 pc at 8887.57 points.

This slight underperformance against the Masi is attributable to losses that affected the weight values, the telecom giant Itissalat Al-Maghrib and the banking group Attijariwafa, which saw their shares decline by 0.19 and 0.52 pc pc, as well as the cement Holcim (-0.59 pc).

At the final bell, 14 sectors have registered a decrease of between -8.15 pc for chemistry and -0.02 pc for transport, against an increase of only three sectors.

The overall volume of securities trading reached at the end of this session, more than 198 210 000 dirhams, negotiated mostly in the central market, while the market capitalization of the site exceeded 527 670 000 000 of dirhams.
The highest increases were realized by Res. Dar Saada (4.09 pc 179.55 DH), Sonasid (3.32 pc in 1059 DH), Cartier Saada (2.21 pc 19.40 DH), Douja Prom. Addoha (2.13 pc to 34 DH) and ICH (0.84 pc to 353 DH).

The largest declines were SNEP (-9.99 pc 155.40 DH) for the third straight session, Jet Alu Morocco SA (-9.43 pc to 216 DH), STROC Industry (-5.97 pc 122 15 DH).