Moroccan All Shares Index Rises 0.23% Led by Banking Stocks

Moroccan stocks closed higher on Wednesday, with the benchmark Moroccan All Shares index (MASI) gaining 0.23%. The advance was primarily driven by positive performance in the banking and transport sectors, according to data from the Casablanca Stock Exchange.

Session Details

Despite the index's rise, overall market sentiment was mixed. Declining stocks outnumbered advancers by a margin of 32 to 24, with four issues ending the session unchanged. This indicates that the day's gains were concentrated in a select number of influential stocks rather than reflecting a broad-based market rally.

Stocks in Focus

The session's top performers were led by financial and industrial companies.

• Top Gainers:
• SMI (CSE:SMI) rose 4.77% to close at 6,299.00.
• Marocaine pour le Commerce et l’Industrie Banque SA (CSE:BCI) gained 4.61% to end at 608.00.
• Fenie Brossette (CSE:FBR) was up 4.09%, closing at 278.50.

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On the other side of the ledger, several companies experienced significant declines.

• Top Losers:
• Societe des Boissons du Maroc SA (CSE:SBM) fell 5.59% to 2,011.00.
• M2M Group (CSE:M2M) declined 4.00% to 360.00, a price that marked a new 5-year low for the stock.
• Salafin (CSE:SLF) dropped 3.36% to finish at 430.00.

Broader Market Context

In global commodity markets, energy prices saw notable gains. Crude oil futures for September delivery rose 3.31% to $87.13 a barrel, while Brent oil for September delivery increased 3.59% to $94.28 a barrel.

Precious metals also advanced, with the August Gold Futures contract rising 2.03% to trade at $4,159.09 a troy ounce. In currency markets, the EUR/MAD and USD/MAD pairs were largely stable, while the U.S. Dollar Index Futures edged down 0.08%.