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Banks and telecoms controls half of the transactions market

Moroccan companies operating in the banking and telecommunications sectors dominated more than 50% of the Casablanca Stock Exchange last week.

Financial analysts said that most traders in the Moroccan stock market focused heavily on the acquisition of bank shares and “Maroc Telecom”, as a result of positive data indicating that these companies will achieve very positive financial results in 2019, which will reflect positively on the profits to be distributed to holders Shares during the current year.

The Casablanca Stock Exchange’s weekly turnover stood at MAD 2.25 billion, after investors traded on 12.98 million shares through 1,895 contracts.

The central market and the exceptional transactions accounted for the lion’s share of the week’s trades, at MAD 2.31 billion, while the volume of transactions on the big deal market reached MAD 16 million.

Attijari Wafa Bank accounted for nearly 19 per cent of the total value traded in the Moroccan stock market last week, with a total turnover of around MAD 60.62 million.

Total weekly trading on Popular Bank shares amounted to about MAD 54.47 million, which represented 17 per cent of the stock market’s trading during the same period.

The dealers also took the shares of “Maroc Telecom” on the Casablanca Stock Exchange, with a total turnover of more than 43 million dirhams, which ranked first in the ranking of the strongest company in terms of capital.

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