Moroccan All Shares Index Gains 0.38% on Banking Sector Strength

Moroccan equities advanced at the close of trading on Wednesday, with the benchmark Moroccan All Shares index rising by 0.38%. The gains were primarily driven by positive performance in the banking, beverage, and transport sectors, according to closing data from the Casablanca Stock Exchange.

Market Snapshot

The session reflected positive market sentiment, as advancing stocks outnumbered decliners. On the Casablanca Stock Exchange, 36 stocks rose while 23 fell, and 3 companies ended the day unchanged.

The gains in the equity market occurred alongside a slight pullback in major commodities. Crude oil futures for August delivery fell 0.78% to $78.72 a barrel, while Brent oil for September delivery declined 1.29% to $83.64 a barrel.

Top Movers

Several companies saw significant price movements during the session. The top-performing stocks were concentrated in diverse sectors, indicating broad-based interest in specific names.

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• IB Maroc Com SA (CSE:IBC): Rose 9.24%, or 4.99 points, to close at 58.99.
• Societe des Boissons du Maroc SA (CSE:SBM): Added 8.40%, or 168.00 points, to end at 2,168.00.
• Ste de Travaux de Realisation d’Ouvrages et de Constuction Industielle SA (CSE:STR): Gained 7.40%, or 12.40 points, to finish at 180.00.

Conversely, the session's biggest decliners included Aluminum du Maroc SA (CSE:ALM), which fell 2.44% to 1,800.00, and Miniere Touissit (CSE:CMT), which declined 1.85% to 4,515.00.

Currency and Forex

In currency markets, the Moroccan dirham saw slight movements against major currencies. The EUR/MAD pair was up 0.17% to 10.66, while the USD/MAD pair also rose 0.17% to 9.34. Globally, the US Dollar Index Futures, which measures the greenback against a basket of trade-weighted peers, was down 0.20% at 100.51.