Stocks Market
Casablanca Stock Exchange Dips as Oil Prices Surge Amid Ongoing Middle‑East Tensions
The Casablanca Stock Exchange closed lower on Tuesday, with the flagship MASI index slipping 0.18% to 17,814 points. The decline came as the Israel‑Hamas conflict dragged on and oil prices rallied, rekindling global inflation concerns. While the broader MASI fell, the MASI‑20 managed a modest 0.3% gain, and trading volume reached roughly MAD 813 million, driven largely by a large block‑trade in CIH Bank shares.
Listen to this article
Unlock audio versions of premium articles and more with a Pro subscription.
Market Snapshot
The Casablanca market extended its short‑term downtrend on Tuesday, ending the session in the red. The MASI index finished at 17,814.15 points, down 0.18% after hitting an intraday low of 17,747.50 points.
In contrast, the MASI‑20 managed to limit its losses and closed slightly higher at 1,319 points, a 0.3% increase.
Trading Volume
Total turnover reached MAD 813 million, with MAD 171 million on the main market and MAD 642 million on the block‑trade market, driven by a sizable CIH Bank operation.
Top Movers
- Managem led the activity with MAD 30 million traded; the share fell 0.71% to MAD 12.411.
- IAM saw MAD 21 million exchanged, price unchanged at MAD 90.80.
- BCP accounted for MAD 14 million, down 0.6% to MAD 248.50.
Best Performer
Med Paper posted the session’s strongest gain, up 8.16% to MAD 26.50.
Biggest Losers
- SBM dropped 4.76% to MAD 2,000.
- ADI fell 3.82% to MAD 379.90.