Moroccan equities finished lower on Thursday, driven by sector-wide declines in Utilities, Banking and Mining that pushed the Moroccan All Shares index down 2.86% to a new one-month low in Casablanca.
Market breadth was decisively negative at the close on the Casablanca Stock Exchange. Falling issues outnumbered advancing stocks by 54 to 5, with 2 securities unchanged, underscoring the broad nature of the selling pressure.
Top performers
- Disty Technologies SA (CSE:DYT) led the winners, gaining 0.71% - up 2.50 points to finish at 354.00.
- Immorente Invest SCA (CSE:IMO) added 0.22% - a 0.20 point rise to close at 90.00.
- LafargeHolcim Maroc (CSE:LHM) also rose 0.22% - up 4.00 points to 1,849.00 at the close.
Largest decliners
- SMI (CSE:SMI) posted the steepest fall of the day, sliding 9.99% - down 722.00 points to trade at 6,508.00 at the close.
- Managem (CSE:MNG) dropped 9.99% - a decrease of 1,479.00 points to finish at 13,321.00.
- Miniere Touissit (CSE:CMT) lost 9.98% - down 459.00 points to end the session at 4,138.00.
Investors left the market with fewer advancing names than decliners, reflecting selling pressure across multiple sectors rather than isolated stock-specific moves. The index move matched a notable fall in the broader market as the Moroccan All Shares recorded the 2.86% decline.
Commodities and currencies
In commodities trading, crude oil for July delivery rose 0.49% - up 0.44 to trade at $90.47 a barrel, while Brent for August slipped 0.13% - down 0.12 to $92.98 a barrel. Gold futures for August fell 0.78% - a drop of 32.10 to trade at $4,101.20 a troy ounce.
On the foreign exchange front, the euro versus Moroccan dirham was effectively unchanged - up 0.01% to 10.70, while the U.S. dollar rose 0.22% against the dirham to 9.29. The U.S. Dollar Index Futures were up 0.29% at 100.23 at the time reported.
Thursday's session left Morocco's benchmark set back after broad losses in Utilities, Banking and Mining. Market participants will likely watch whether the current momentum persists into the next session given the wide gap between decliners and advancers.
Data points in this report reflect closing prices and intraday moves as stated at the close of trading in Casablanca.