Moroccan All Shares Index Drops 1.78% to 1-Month Low

Main Summary

The Moroccan All Shares index concluded Thursday's trading session down 1.78%, establishing a new one-month low. The decline was primarily driven by significant losses in key industrial sectors, reflecting widespread negative sentiment among investors.

Market Overview

At the close in Casablanca, the downturn was led by poor performance in the Utilities, Banking, and Mining sectors. The market breadth confirmed the bearish trend, with falling stocks outnumbering advancing ones on the Casablanca Stock Exchange by 52 to 8, while 3 stocks closed unchanged.

Key Movers and Sector Impact

Among the session's worst performers were SMI, which plunged 9.98%, Miniere Touissit, dropping 9.92%, and Managem, which fell 7.45%. In contrast, Wafa Assurance provided a bright spot by rising 3.86%, followed by CTM with a 3.82% gain, and Lesieur Cristal, which was up 2.21%.

Summary

The significant drop in the Moroccan All Shares index highlights vulnerability in the country's core economic sectors. The market's performance, heavily skewed towards declining stocks, suggests that investor caution may continue in the near term as they assess sector-specific risks.

FAQ

Q: What caused the Moroccan stock market to decline?
A: The decline was primarily led by significant losses in the Utilities, Banking, and Mining sectors, causing the Moroccan All Shares index to fall 1.78% to a new one-month low.

Q: Which stocks were the most affected?
A: The worst-performing stocks of the session were SMI (-9.98%), Miniere Touissit (-9.92%), and Managem (-7.45%).

Source: Investing.com