Stock Exchange Market: MAD 22 Billion Lost in 2 Sessions

MASI dropped 1.91% to 11,726.24 points at the Casablanca Stock Exchange close on Thursday. The barometer of the most liquid values dropped by 2.10% to 9.583.52 points.

The FTSE indices follow the same trend. Almost none of the large-cap stocks was spared by the sell-off pressure on the market. Maroc Telecom fell by 0.36% to MAD 139.50 after a negative performance of 4.18% the previous day.

The price of BCP and Ciments du Maroc dropped by 6.25% and 6.14%. Attijariwafa bank limited its decline to 1.21% and Lafarge-Holcim Morocco to 0.43%. In real estate, Addoha sold 3.64% while Résidences Dar Saada registered a decline of 2.11%. Alliances on its side dropped by 9.50%. In all, 17 out of 23 sector indices closed in negative territory.

At closing, the capitalization was set at MAD 590 billion, falling by MAD 22 in two sessions. On Thursday, the transactions in the market stood at MAD 266 million. Maroc Telecom mobilized MAD 70 million. Ciments du Maroc drained MAD 33 million and Addoha MAD 29 million.

However, sales continue on the Casablanca square thanks to the main management companies which are behind this movement. After the acceleration of prices since the end of 2016, investors are finally harvesting their profits.

Source :Morocco World News