Story
Moroccan All Shares Index Drops 2.18% to One-Month Low
Summary
Morocco's benchmark stock index fell sharply at Friday's close, hitting a new one-month low as broad-based losses in the banking, utilities, and mining sectors weighed on the market.
Morocco's benchmark equity index, the Moroccan All Shares, declined 2.18% on Friday to close at a new one-month low. The sell-off was widespread, driven by significant losses across key sectors of the Casablanca Stock Exchange.
Broad-Based Sector Weakness
The downturn was led by poor performance in the Utilities, Banking, and Mining industries, according to market data. The session's market breadth underscored the negative sentiment, with falling stocks heavily outnumbering advancing ones by a margin of 51 to 8, while 3 stocks closed unchanged.
Key Stock Movements
AdSeveral companies experienced steep declines during the trading session. The most significant losses included:
- Marocaine pour le Commerce et l’Industrie Banque SA (CSE:BCI), which plunged 6.90%.
- Rebab Company (CSE:REB), falling 4.73%.
- Auto Hall (CSE:ATH), which dropped 4.62% to reach a new 5-year low.
Despite the broader market decline, a few stocks posted gains. Among the top performers were CTM (CSE:CTM), which rose 2.73%, and Lesieur Cristal (CSE:LES), which added 1.64%.
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