The Casablanca Stock Exchange was quite dynamic during the first quarter of 2020, despite a context strongly marked by the effects of the covid-19 pandemic on the Moroccan economy. The MASI, the index that groups together all the companies listed on this financial market, ended on a level down by 11% compared to the same period in 2019.

The overall market capitalization was MAD503 billion on March 31, 2020, down MAD58.3 billion compared to that of March 31, 2019. Many local analysts believe that the covid-19 effect has impacted the financial market, however, this has not prevented investors from investing in low valuations. Rating agencies believe that once the stress of the new coronavirus passes, the country should quickly get back on the path of growth.

The overall value of transactions on the central market reached MAD 12.5 billion in the first quarter of 2020, up 147.7% compared to the same period in 2019. The number of stock exchange orders increased by 38.3% between the two periods.

Collective investment in transferable securities UCITS, major players in stock market investment in Morocco, were the most active with 41.7% of share sales and 47.9% of purchases. Moroccan legal entities followed, even though they sold more shares than they bought. Foreign legal entities, on the other hand, sold far more shares than they bought.

Idriss Linge