Moroccan Stock Market Closes Higher
Moroccan All Shares Index Gains 0.19%
Casablanca - The Moroccan stock market closed higher on Tuesday, with the benchmark Moroccan All Shares Index (MASI) gaining 0.19% to 12,241.44 points.
The gain was driven by a rise in banking and telecommunications stocks. Attijariwafa Bank (ATW) was the top gainer, rising 3.1% to MAD237.50. Maroc Telecom (IAM) followed, gaining 2.1% to MAD133.20.
The overall volume of shares traded was 56.1 million, worth a total of MAD1.5 billion. Addoha (ADH) was the most heavily traded stock, with 10.1 million shares changing hands.
Market Movers
In addition to Attijariwafa Bank and Maroc Telecom, other notable gainers included:
- Bank of Africa (BOA) +2.9% to MAD323.40
- Cosumar (CSU) +2.2% to MAD244
- LafargeHolcim Maroc (LHM) +2.1% to MAD2049
Among the decliners were:
- Centrale Danone (CDT) -1.4% to MAD344.95
- Douja Prom Addoha (D1P) -1.3% to MAD10.70
- Taqa Morocco (TQA) -1.1% to MAD128
Economic Outlook
The Moroccan economy is expected to grow by 4.5% in 2023, according to the International Monetary Fund (IMF). This growth is supported by a strong agricultural sector and a recovery in tourism. The IMF also expects inflation to remain moderate, at around 3.5%.
The Moroccan stock market is expected to continue to benefit from the country's strong economic fundamentals. However, investors should be aware of the risks associated with investing in emerging markets, including political instability and currency fluctuations.
Conclusion
The Moroccan stock market closed higher on Tuesday, with the MASI gaining 0.19%. The gain was driven by a rise in banking and telecommunications stocks. The overall market outlook remains positive, with the IMF expecting the Moroccan economy to grow by 4.5% in 2023. Investors should be aware of the risks associated with investing in emerging markets, but the Moroccan stock market offers a number of attractive opportunities.
