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Moroccan All Shares Index Slips on Banking and Mining Weakness
Morocco's benchmark stock index ended Tuesday's session in negative territory, weighed down by sector-specific weakness. The Moroccan All Shares (MASI) index closed down 0.36%, according to data from the Casablanca Stock Exchange.
Sector-Led Declines
The day's losses were primarily driven by downturns in several key industries. The Utilities, Banking, and Mining sectors were the main contributors to the index's decline, leading a broader market retreat.
Market breadth was negative, with falling stocks outnumbering advancing ones. Data from the session showed 29 stocks declined, while 21 advanced and 8 ended the day unchanged.
Notable Movers
Despite the overall market dip, several companies posted significant gains. The top performers included:
Ad- M2M Group (CSE:M2M), which surged 6.58% to close at 395.00.
- Mutandis SCA (CSE:MUT), adding 3.24% to end the day at 228.15.
- Disty Technologies SA (CSE:DYT), which rose 3.20% to 351.90.
On the other side of the ledger, the session's worst performers were led by Maghrebine de Monetique Ste SA (CSE:S2M), which fell 5.93% to 460.00. Hps (CSE:HPS) declined 3.53% to 518.70, and Fenie Brossette Ste SA (CSE:FBR) was down 3.03%, closing at 320.00.
Broader Market Context
In the wider commodities market, oil prices retreated. Crude oil futures for December delivery fell 1.67% to $100.06 a barrel, while Brent oil for January delivery dropped 1.28% to $109.32 a barrel. In contrast, Gold futures for December delivery gained 0.74% to trade at $4,068.32 a troy ounce.
In currency markets, the EUR/MAD pair was down 0.16% at 10.98, while the USD/MAD was effectively unchanged at 9.85.
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