Morocco Market Watch | June 8th 2015: Moroccan equity market starts on bearish mood, falls MAD 580 million today

Casablanca, Morocco (Capital Markets in Africa):- Morocco equity market opened the week on a bearish mood. Morocco’s benchmark stock index (MASI Index) lost 0.13 percent to close at 9,723.73 points (reduced year-to-date performance to 1.08 percent) with total market capitalization at MAD 494.036 (lost by MAD 580 million compared to previous trading sessions market capitalization of MAD 494.616 billion) and market activities measured as total traded value was recorded at MAD 35.449 million (a fall of 53 percent from previous trading session of MAD 73.212 million). Equally, Moroccan most active share index (MADEX) closed at 7,985.32 points (lost 0.14 percent compared to last Friday trading session). However, FTSE CSE Morocco 15 Index added 0.11 percent to close at 8,514.14 points (-3.47 percent year-to-date performance) but FTSE CSE Morocco All-Liquid Index fell by 0.07 percent to end at 8,133.12 points (to bring the year-to-date performance to 0.90 percent).

In term of sector indices, top gainers were Transport, Forestry & Paper and Banks sector indices surged by 3.89 percent, 3.76 percent, and 0.66 percent respectively. On the losers’ side were Chemicals (lost 4.64 percent to close the year-to-date performance at -41.49 percent), Engineering & Equipment (declined by 2.74 percent and -35.41 percent year-to-date return) and Food Producers & Processors sector index (went down by 1.78 percent).

The market sentiment was positive today, as the market breadth (advancer/decliners ratio) with 15 gainers and 12 losers. On the gainers’ league table, FENIE BROSSETTE Morocco gained 5.83 percent to end at MAD 134.40 and CTM Morocco advanced by 4.94 percent to settle at MAD 425.00. Likewise, BMCI surged by 4.17 percent with closing price of MAD 669.00 as well as PROMOPHARM S.A. advanced by 4.04 percent to conclude at MAD 875.00. While topping the losers’ table were STROC INDUSTRIES Morocco, SNEP, LABEL VIE and MANAGEM went down by 5.99 percent (to settle at MAD 90.24), 5.74 percent (to end at MAD 120.65), 4.00 percent (with closing price of MAD 1,200.00) and 3.56 percent (to settle at MAD 868.00) respectively.