Casablanca stock exchange nears historic record following benchmark rate cut

Casablanca Stock Exchange approached its highest historical level, buoyed by the unexpected announcement from Bank Al-Maghrib to lower its key interest rate to 2.25%.

The MASI, the benchmark index, closed up 2.10% at 17,193 points, touching its all-time high. The volume of transactions on the central market reached 1.1 billion dirhams.

Attijariwafa Bank led the session with a trading volume of 173 million dirhams, up 3.08%. TGCC, a construction firm, also performed well, gaining 2.82%, with a transaction volume of 118 million dirhams. Marsa Maroc, a key player in port logistics, rose by 2.68%, with exchanges amounting to 94 million dirhams.

Beyond monetary policy, the bullish trend in the stock market is based on solid fundamentals. Since May 2023, the Casablanca Stock Exchange has been evolving in a structural upward dynamic, fueled by several economic catalysts.

The rise of major infrastructure projects related to the organization of the 2025 Africa Cup of Nations and the 2030 World Cup, combined with the continuation of the monetary easing cycle, constitutes a powerful driver for investment.