Moroccan All Shares Index Drops 0.77% on Sector Losses

Market Closes Lower as Key Sectors Decline

The Moroccan stock market experienced a downturn at the close of trading on Monday, with the benchmark Moroccan All Shares index falling by 0.77%. The decline was primarily driven by significant losses in the Utilities, Banking, and Mining sectors.

Overall Market Performance

At the Casablanca Stock Exchange, market sentiment was bearish as falling stocks significantly outnumbered advancing ones by a margin of 42 to 13, with 5 stocks remaining unchanged. This broad-based decline reflects the cautious investor mood during the session.

In related markets, key commodity prices also saw a decrease. Crude oil for March delivery dropped 4.39%, while Brent oil for April delivery fell 4.26%. Meanwhile, the US Dollar Index Futures showed strength, rising 0.51%.

Sector and Stock Performance

The mining sector was among the hardest hit. SMI shares plummeted by 9.99% to close at 5,955.00. Miniere Touissit followed with a 9.90% drop to 2,320.00, and Managem was down 7.53% to 7,630.00.

Despite the overall market downturn, some stocks posted gains. Marocaine Ste de Therapeutique SA was a top performer, rising 2.86% to 1,800.00. Mutandis SCA also added 2.64%, ending the session at 248.50.

Summary Outlook

The negative close for the Moroccan All Shares index, pressured by key industrial sectors, suggests a cautious outlook among investors. The performance of global commodities and currency markets will likely remain a key factor for the Casablanca exchange in the upcoming sessions.

FAQ

Q: Which index reflects the Moroccan stock market's performance?
A: The Moroccan All Shares index is the primary benchmark for the Casablanca Stock Exchange.

Q: Which sectors led the decline in the Moroccan market?
A: The decline was led by losses in the Utilities, Banking, and Mining sectors.

Q: How many stocks advanced versus declined?
A: Declining stocks outnumbered advancing ones, with 42 stocks falling and only 13 rising.

Source: Investing.com