Story
Moroccan All Shares Index Gains 0.64% on Banking and Beverage Sector Strength
Summary
The Moroccan All Shares index closed higher on Tuesday, gaining 0.64% as strong performances in the banking, beverage, and transport sectors lifted the Casablanca market. Societe des Boissons du Maroc was among the top performers.
Morocco's benchmark stock index, the Moroccan All Shares, finished Tuesday's trading session in positive territory, climbing 0.64% at the close in Casablanca. The advance was primarily driven by sector-led gains in banking, beverages, and transport, according to market data.
Top Movers
The market saw more rising stocks than falling ones, with 32 companies advancing compared to 24 decliners, while 7 remained unchanged. The session's top performers were concentrated in the beverage and banking industries.
- Societe des Boissons du Maroc SA (SBM) was the day's biggest gainer, surging 4.70% to close at 2,094.00.
- Marocaine pour le Commerce et l’Industrie Banque SA (BCI) followed, adding 3.64% to end the day at 570.00.
- Alliances (ADI) also posted a strong performance, rising 3.41% to 389.95.
Market Laggards
AdOn the other side of the ledger, IB Maroc Com SA was the session's worst performer, shedding 5.55% to close at 55.11. Stokvis Nord Afrique (SNA) declined 2.38% to 61.50, a new 52-week low for the stock. Ste Nationale de Siderurgie SA (SID) also fell, losing 2.16% to finish at 1,810.00.
Broader Context
The gains in Moroccan equities came amid mixed signals from global commodity and currency markets. Crude and Brent oil futures were both trading lower, while gold futures saw an increase. In foreign exchange, the Moroccan dirham weakened slightly against both the euro and the U.S. dollar, with the US Dollar Index Futures trading up 0.29%.
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