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Moroccan All Shares Index Slips 0.38% on Banking and Mining Weakness
Morocco's benchmark stock index ended Tuesday's trading session in negative territory, with the Moroccan All Shares (MASI) falling by 0.38%. The decline was primarily driven by sector-wide weakness, particularly in the utilities, banking, and mining industries, according to closing data from the Casablanca Stock Exchange.
Market Internals
Market breadth for the session was negative, indicating broad-based selling pressure. Falling stocks outnumbered advancing ones by a margin of 38 to 20, while three stocks closed unchanged.
The session's worst-performing stocks included:
- Jet Contractors (CSE:JET), which fell 6.10% to close at 2,000.00.
- Travaux Generaux De Construction De Casablanca (CSE:TGC), declining 5.50% to 737.00.
- CIH (CSE:CIH), which dropped 4.24% to 338.50, hitting a new 52-week low.
AdTop Performers
Despite the overall market downturn, several companies posted significant gains. The top performers were led by S2M (CSE:S2M), which surged 7.80% to finish at 539.00. Other notable gainers included Total Maroc SA (CSE:TMA), up 6.24%, and Bmce Bank (CSE:BOA), which rose 4.49%.
Broader Context
In the currency markets, the Moroccan dirham weakened against major currencies. The USD/MAD pair rose by 0.51% to 9.34. In commodities, oil prices saw a significant increase, with Crude oil for October delivery rising 2.66%. Meanwhile, the December Gold Futures contract fell 1.63%, reflecting shifts in global investor sentiment.
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