Casablanca Stock Exchange: The Real Estate Is on the Decline

The Casablanca Stock Exchange significantly increased over the period from 19 to 22 November 2019, with the two main MASI and MADEX indices rising by 1.57% and 1.6% respectively.

At the end of this week, the MASI, a global index composed of all equity-type stocks, rose to 11,809.15 points, while the MADEX, a compact index composed of continuously quoted stocks, rose to 9,627.46 points, bringing their Year-To-Date (YTD) performances to 3.91% and 4.27% respectively.

On the international side, the FTSE CSE Morocco 15 improved by 1.36% to 10.375.02 points and the FTSE Morocco All-Liquid took 1.6% to 10.172.87 points.

Similarly, the Environment, Social and Governance (ESG) benchmark “Casablanca ESG 10” gained 1.63% to 927.95 points. In terms of sectors, 16 sectors out of the 24 represented on the Casablanca coast closed the week in good shape, with performances ranging from 4.56% for the chemicals sector to 0.38% for the mines.

On the decline, the sectors of real estate (-8.31%), portfolio companies – Holdings (-5.33%) and finance companies and other financial activities (-2.4%) recorded the largest declines.

In addition, market capitalization amounted to approximately 608.4 billion MAD(MMDH), while the overall volume exceeded 676.5 million MAD (MDH).

On an individual basis, the M2M group posted the best performance with an increase of 16.35%, followed by Disway (+8.48%) and S2M (+7.22%).

On the other hand, the real estate developers, Alliances, Res Dar Saada and Addoha, sold 8.69%, 8.33% and 8.16%, the largest falls in the rating.

On the podium of the most active stocks of the week were Itissalat Al Maghrib (30.17%), Attijariwafa Bank (21.58%) and BCP (12.2%).

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