STOCK EXCHANGE. The MASI fell below 10,000 points after a drop of more than 3.2% during the January 6 session. A drop caused by the sharp rise in rates on the secondary bond market today. Negative expectations are therefore emerging on the equity market due to the impact on the valuation of listed companies.
At the close, the MASI and the MSI20 fell heavily, respectively from 3.22% to 9,717 points and from 3.4% to 775 points.
It was expected that on January 6 and 10, a rate increase would be recorded on the secondary bond market. Already today, the longest maturities in secondary education, namely 30 years, exceeded 5%.
The diversion of the equity market is indeed being confirmed. A local source explains to us on this subject that “this sharp drop in the equity market comes from the sharp rise in secondary rates today. It is also about what the Treasury plans to do for the next auction. on Tuesday, namely exiting on long-term maturities and impacting them upwards. This is a generalized rise in rates on the primary and secondary bond market. This inevitably induces negative expectations on the equity market due to the the impact on the level of valuation of listed companies”.
The January 6 session closed with a trading level around 133,9 MDHmostly driven by Attijariwafa bank (36 MDH).
Biggest rises
He vowed gained 0.69% to 5.8 MAD following the exchange of 50,900 shares. AtlantaSanad gained 4.8% to 120 DH following the exchange of 21,512 shares. Alliances gained 1.83% to MAD 45 following the exchange of 10,008 shares.
Biggest declines
Morocco Telecom dropped 6% to 90.15 DH following the exchange of 203,347 shares. Cosumar dropped 5.98% to 163.4 DH following the exchange of 115,857 shares. Attijariwafa bank dropped 1.62% to 359 DH following the exchange of 99,814 shares.