The Moroccan stock market demonstrated upward momentum at the end of trading on Thursday, with the Moroccan All Shares index recording a 0.76% increase by the Casablanca exchange’s close.
Key contributors to this rise were shares within the Banking, Beverage, and Transport industries which collectively bolstered the broader market gains.
Among individual stocks, Miniere Touissit (CSE:CMT) emerged as the session’s top performer, climbing 6.90%, equivalent to a 140-point increase, closing at 2,170. In addition, technology-oriented S2M (CSE:S2M) surged 5.17%, adding 28.90 points to end at 588.00. Involys (CSE:INV) shares also advanced by 4.92%, gaining 9 points to finish at 192.
Conversely, among the laggards, Sanlam Maroc SA (CSE:SAH) declined 4.22%, dropping 95 points to trade at 2,155. SMI (CSE:SMI) fell by 1.63%, losing 99 points to close at 5,990. Cartier Saada (CSE:CRS) experienced a 1.40% decrease, shedding 0.47 points to 33.01.
Market breadth reflected these movements, with 37 stocks advancing, 18 declining, and 5 remaining unchanged, indicating a predominance of positive momentum across the Casablanca Stock Exchange.
On the commodities front, crude oil prices experienced downward pressure; March futures declined by 1.86%, or $1.13, to stand at $59.49 per barrel. Similarly, Brent crude for March delivery decreased by 1.85%, approximately $1.21, settling at $64.03 per barrel. In contrast, the February gold futures contract inched up 0.08%, or $4.04, reaching $4,841.54 per troy ounce.
Currency exchange rates against the Moroccan dirham displayed minimal fluctuations. The EUR/MAD pair remained virtually unchanged, with a marginal 0.03% increase to 10.74. The USD/MAD pair declined slightly by 0.14%, closing at 9.18.
The US Dollar Index Futures also retreated by 0.26%, finishing at 98.31.