Moroccan equities finished the trading session lower on Monday, led by weakness in the Utilities, Banking and Mining sectors, with the Moroccan All Shares index falling 1.03% at the close in Casablanca.
Market breadth was negative: 49 stocks fell versus 11 that advanced and 2 that finished unchanged on the Casablanca Stock Exchange.
Among individual movers, Lesieur Cristal (CSE:LES) was the top gainer, rising 6.31% or 24.75 points to close at 416.75. Med Paper (CSE:MDP) added 3.31% or 0.85 points to end the day at 26.50, and Sanlam Maroc SA (CSE:SAH) increased 2.59% or 79.00 points to 3,129.00 in late trade.
On the downside, Marocaine pour le Commerce et l’Industrie Banque SA (CSE:BCI) posted the largest drop, declining 4.84% or 30.00 points to finish at 590.00. Alliances (CSE:ADI) fell 3.79% or 17.80 points to 452.20, while Delta Holding S.A (CSE:DHO) lost 3.15% or 2.05 points to close at 62.95.
Commodities markets showed marked moves during the session. Crude oil for June delivery rose 5.88% or $4.86 to settle at $87.45 a barrel. Brent crude for June delivery climbed 5.80% or $5.24 to $95.62 a barrel. In contrast, the June Gold Futures contract decreased 1.28% or $62.24 to trade at $4,817.36 a troy ounce.
Foreign exchange rates moved modestly: EUR/MAD was up 0.06% to 10.87 and USD/MAD increased 0.06% to 9.24. The US Dollar Index Futures was up 0.09% at 97.99.
Market context
The session's headline move - a 1.03% decline in the Moroccan All Shares - reflected broad selling across several key sectors including Utilities, Banking and Mining. The ratio of decliners to advancers and the notable individual drops in several large-cap names underline the negative tone at the close.
What to watch next - commodity price swings and currency movements may continue to influence market sentiment and specific sector performance in upcoming sessions.