Moroccan stock market ends higher, Moroccan All Shares up 0.76%

Market movers

The Moroccan stock market closed higher on Tuesday, with the Moroccan All Shares index rising 0.76% to 10,002.76 points.

Among the most active stocks, Maroc Telecom gained 1.3%, Attijariwafa Bank rose 1.1%, and BCP added 0.9%.

On the downside, LafargeHolcim Morocco lost 1.4%, Sodep Marsa Maroc fell 1.1%, and Taqa Morocco declined 0.9%.

Sector performance

The banking sector was the best performer, with the Moroccan Banking index gaining 1.1%.

The telecommunications sector also performed well, with the Moroccan Telecommunications index rising 1.0%.

On the other hand, the utilities sector was the worst performer, with the Moroccan Utilities index falling 0.9%.

Outlook

The Moroccan stock market is expected to continue to trade higher in the coming weeks.

The country's economy is expected to grow by 4.5% in 2023, and the banking sector is expected to continue to benefit from rising interest rates.

The telecommunications sector is also expected to continue to grow, as the country invests in 5G technology.