For the first time, the market value of the Morocco Stock Exchange exceeds a trillion dirhams

The market value of the Morocco Stock Exchange for the first time exceeded a trillion Dirhams ($ 110.9 billion) after the main index exceeded the level of 19 thousand points at the end of the trading today, Friday, which is the best performance of the stock market in the kingdom. The most important index “Mazi” reached the level of 19168 points after the increase today by 1.3%, to reach its profits since the beginning of the year to 29.75%. The share of the “Vicin” Medical Equipment Company issues the share list in terms of Ascension to a 9.98% increase today. He has continued his Saudi career since his circulation on Tuesday to earn in four 45% sessions. The first public offering of the Moroccan company, which amounts to 500 million dirhams, had a record after attracting the largest subscription requests since 2007, with a value of 32.1 billion dirhams of more than 37 thousand investors. The heights also led the share of “Maghreb Arybox” to 9.96%, and the “Stima” pharmaceutical enterprise with 9.56%. The insurance company “Sanlam Al -Maghrib” achieved the strongest declines by about 6.75%. The Casablanca Stock Exchange said in a post about “LinkedIn” that “the records at the level of the main index and the market value are an important achievement for the Moroccan stock market,” and added in a publication: “This double performance reflects renewed confidence among investor and businesses and a growing power of the stock market, supported by solid fonds and long term.” A solid economy, significant investment momentum and positive prospects. This achievement comes at a time when investor confidence has strengthened more in the light of the country’s implementation of major projects whose total value is estimated at approximately $ 170 billion over the next five years, before the 2030 World Cup presentation, in addition to a Report of the Queen’s Report, the Report of Wafa Bank. Also read: Morocco’s economy is growing in the first quarter with the fastest frequency since 2021 “The market value reached by the stock exchange has been expected, the shares of the large listed companies have recorded record increases, including the Commercial Wafa Bank and the Moroccan telecommunications business” according to Abdel Razzaq Maghraoui, CEO of Interview with “Al Sharq”. Basic principles for the local economy, great investment momentum and positive future prospects during the coming years. ‘The price of “Trade Wafa Bank”, the largest company listed in the stock market, rose by about 3.6% during Friday, while Moroccan Telecom Corps, the largest telecommunications company in the country, rose 2.54%. Maghraoui pointed out that the dynamics of investment in the kingdom are supported by the policy of facilitating the monetary policy pursued by the Central Bank of Morocco, as interest was reduced to 2.25% in March and kept unchanged in June. According to a number of local investment banks, the interest is likely to be reduced again before the end of the year. The Moroccan stock exchange is currently shares of 78 businesses, and the country strives to overcome the target of 300 businesses by 2035. The Moroccan stock market sees a huge request from investors amid a limited stock offer.