Moroccan equities closed modestly lower on Wednesday, with losses concentrated in the Utilities, Banking and Mining sectors that together applied downward pressure to the broader market. At the Casablanca exchange close, the Moroccan All Shares retreated 0.34%.
Market breadth showed more decliners than advancers: 31 stocks fell, 24 advanced and 9 finished flat.
Top gainers
- Zellidja S.A (CSE:ZDJ) led the winners, rising 5.79% or 13.30 points to end the session at 243.00.
- M2M Group (CSE:M2M) added 5.47% or 19.90 points to close at 384.00.
- Societe des Boissons du Maroc SA (CSE:SBM) rose 3.24% or 68.00 points to finish at 2,168.00.
Notable laggards
- Jet Contractors (CSE:JET) was the weakest among actively traded names, dropping 3.61% or 75.00 points to close at 2,000.00.
- Wafa Assurance (CSE:WAA) declined 2.83% or 150.00 points to 5,150.00 at the close.
- Bmce Bank (CSE:BOA) fell 2.58% or 4.90 points to end the day at 185.10.
Commodity markets showed notable moves during the session. Crude oil for September delivery jumped 7.47% or 5.92 to $85.18 a barrel. Brent futures for October delivery climbed 6.91% or 5.67 to $87.75 a barrel. By contrast, the August Gold Futures contract slipped 0.76% or 30.85 to trade at $4,007.85 a troy ounce.
On the currency front, EUR/MAD rose 0.23% to 10.68 while USD/MAD firmed 0.15% to 9.38. The US Dollar Index Futures was marginally lower, down 0.01% at 101.26.
The session combined sector-led weakness in domestic equities with significant commodity price swings. While a handful of stocks posted strong gains, overall market momentum favored decliners at the close in Casablanca.