At the close of trading on Friday, Morocco’s stock market ended in negative territory as the Moroccan All Shares index dropped 0.79%, pulled down primarily by declines in the Utilities, Banking, and Mining sectors. The session reflected a broad uneven performance among listed companies, with some stocks demonstrating strong gains while others recorded notable losses.
The leading advance among equities on the Casablanca Stock Exchange was Realis. Mecaniques (CSE:SRM), which surged by 8.12%, or 35.90 points, to close at 477.90. Close behind, Sanlam Maroc SA (CSE:SAH) increased 7.75%, adding 167 points to finish at 2,322.00. SMI (CSE:SMI) also posted a solid advance, rising 4.71% or 279 points to reach a new peak price of 6,200.00.
Conversely, the most significant declines were observed in Ste de Travaux de Realisation d’Ouvrages et de Constuction Industielle SA (CSE:STR), which decreased 5.79%, or 14 points, closing at 228.00. Douja Prom Addoha (CSE:ADH) lost 4.96% or 1.67 points to end the session at 32.00, touching its 52-week low during the session. Bmce Bank (CSE:BOA) also faced a downturn, dropping 4.76% or 10 points to 200.00.
Market breadth was skewed towards declines with 42 stocks falling in price against 18 gainers, while 3 stocks remained unchanged by the session’s end.
In commodity markets, energy prices rose, with March delivery crude oil advancing 2.91%, increasing by $1.73 to $61.09 per barrel. Brent crude futures for March also gained 2.76%, or $1.77, settling at $65.83 per barrel. The February gold futures contract appreciated 0.86%, or $42.16, ending at $4,955.56 per troy ounce.
Currency markets saw minor shifts as the euro strengthened 0.06% against the Moroccan dirham to 10.75, while the US dollar weakened 0.20% to 9.15 MAD. The US Dollar Index Futures slid 0.11% to settle at 98.07.
Overall, the Moroccan stock market displayed sector-specific vulnerabilities alongside selective gains, influenced by broader commodity price movements and currency fluctuations, impacting investor sentiment at the close.
On Friday, the Casablanca Stock Exchange saw declines led by the Utilities, Banking, and Mining sectors, culminating in the Moroccan All Shares index falling by 0.79%. Despite this downturn, certain stocks delivered notable gains with Realis. Mecaniques, Sanlam Maroc SA, and SMI recording significant positive movements. Commodities such as crude oil and gold also experienced price increases during the session, while currency movements presented minor fluctuations against the Moroccan dirham.
Key Points
- Moroccan All Shares index declined 0.79% at Friday’s close, led by falling Utilities, Banking, and Mining stocks.
- Top gainers included Realis. Mecaniques (+8.12%), Sanlam Maroc SA (+7.75%), and SMI (+4.71%) with SMI reaching an all-time high.
- Commodity prices increased during the session, with crude oil and gold futures both posting gains. Currency values showed slight movement against the Moroccan dirham.
Risks
- Continued weakness in key sectors such as Utilities, Banking, and Mining could pressure overall market performance and investor confidence.
- Lower stock prices for companies like Douja Prom Addoha, which hit 52-week lows, highlight susceptibility to sector-specific or company-level risks.
- Volatility in commodity prices and currency fluctuations may introduce uncertainty for businesses and investors operating within or trading exposure to Morocco's market.