Rabat – On January 1, 2022, the Casablanca Stock exchange abandoned the Madex index, which comprises the most active shares listed on the Casablanca stock exchange.
The Madex index, one of the two major indexes tracking the performance of listed companies on the stock exchange, is replaced by a new Morocco Stock Index 20 (MSI20).
The next-generation index is more comprehensive in its scope, accounting for international high-performing stocks as well as Moroccan stocks.
The MSI20 is to replace Madex, becoming the benchmark reference for North Africa’s biggest stock exchange.
Following a successful launch, the stock exchange decided to adopt the new index alongside the established Masi. The Masi index keeps track of all companies listed in the Casablanca Stock Exchange.
Before adopting the MSI20, Morocco’s Index Science Committee conducted a survey to assess the usefulness of the index. The survey result indicated that 85% of respondents used MSI20 as a benchmark index.
The MSI20 keeps track of companies with the highest liquidity reserves listed on the stock exchange.
The new index is part of a large-scale process to modernize the stock exchange. As part of the modernizing process, the stock exchange also aims to issue a stock exchange that is Islamic-financing friendly.
The Casablanca stock exchange is one of the best-performing stock exchanges in North Africa and the Middle East (MENA) and the third-largest on the African continent.
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