Morocco’s Stock Market Plunges 25% in Year, MASI Index Hits 7-Day Losing Streak

For the 7th consecutive time, the Masi recorded another consecutive session in decline after a drop of 1.72% to 9,395.76 points, reports L’Économiste. While the benchmark of the most liquid stocks fell 1.77% to 7,618.96 points, the Ftse indices are not doing much better.

As a result, 14 sectoral indices closed Friday’s session in the red, revealing the most significant declines in the Banking (-2.68%), Building and Construction Materials (-3.10%), Oil & Gas (-3.05%), Distribution (-2.32%), and Insurance (-1.32%) sectors.

In contrast to the sectoral indices, the Electricity, Real Estate, Telecommunications and Mining sectors ended the week on a small green note. On an annual basis, losses have widened to 22.81% for the Masi and 23.19% for the Madex. As for the market capitalization, it stands at 488 billion DH.

As for the trading volume, it stood at 158 million DH. While Attijariwafa bank was the most sought-after stock of the session after a volume of 52 million DH, the bank stock fell 2.21% to 354 DH, while Maroc Telecom appreciated 0.08% to 125 DH on a volume of 19 million DH. As for Ciments du Maroc, it lost 3.05% to 1,240 DH.