Moroccan All Shares Index Drops 0.42% on Banking and Mining Weakness

Morocco's benchmark stock index, the Moroccan All Shares (MASI), closed down 0.42% on Tuesday, as broad-based selling pressure in key sectors dragged the market lower. The decline reflected negative investor sentiment, with more stocks falling than rising during the session.

Sector-Led Decline

The day's losses were primarily driven by weakness in the Utilities, Banking, and Mining sectors, according to data from the Casablanca Stock Exchange. Market breadth confirmed the bearish tone, with 32 stocks declining compared to 20 that advanced, while nine companies ended the session unchanged.

Notable Stock Movers

Several companies experienced significant price movements, leading the market's performance.

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• Top Decliners: Mining company Managem (CSE:MNG) was among the worst performers, falling 3.59%. It was joined by Societe des Boissons du Maroc SA (CSE:SBM), which dropped 3.09%, and CDM (CSE:CDM), which lost 2.91%.
• Top Gainers: On the positive side, Zellidja S.A (CSE:ZDJ) was the standout performer, surging 6.34%. Ste de Travaux de Realisation d’Ouvrages et de Constuction Industielle SA (CSE:STR) gained 3.24%, and Afric Industries Sa (CSE:AFI) rose 2.28%.

Broader Market Context

The move in Moroccan equities occurred amid a downturn in global commodity markets. Crude oil and gold futures contracts were both trading lower on Tuesday. In currency markets, the USD/MAD pair rose 0.41% to 9.39, while the EUR/MAD was down 0.09% at 10.66.