Stocks Market
Casablanca Stock Exchange Slides 1.16% as Global Risk Factors Intensify
The Moroccan stock market faced significant pressure on Monday, with the MASI benchmark index declining 1.16% to 18,400 points amid deteriorating global market conditions. Trading volume reached 279 million dirhams as investors grappled with multiple headwinds including Brent crude surging past $109 per barrel, US 10-year Treasury yields approaching 5%, and anticipation of a potential Federal Reserve rate hike. This downturn extends a three-week losing streak for the Casablanca bourse, reflecting growing risk aversion in international markets.
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The Casablanca Stock Exchange experienced heightened selling pressure on Monday as the benchmark MASI index deepened its correction phase, dropping 1.16% to settle at 18,400 points. The session saw trading activity reach 279 million dirhams, taking place against a backdrop of escalating international market tensions.
Global Headwinds Weigh on Sentiment
Investors navigated a challenging global environment characterized by three key risk factors: Brent crude oil prices climbing above $109 per barrel, US 10-year Treasury yields nearing the psychologically significant 5% threshold, and market participants positioning ahead of Wednesday's Federal Reserve meeting where a potential interest rate increase is under consideration.
This renewed caution comes as the Moroccan market was already grappling with a three-week consecutive decline, though previous losses had been relatively contained at just over 2%.
Broad-Based Index Weakness
Across the exchange's main indices, downward momentum dominated Monday's session. The MASI 20 index contracted 0.73% to 1,330.14 points, bringing its year-to-date performance to -10.47%. Meanwhile, the MASI ESG index surrendered 1.08% to close at 1,368.03 points, and the MASI Mid index registered a 1.18% decline, settling at 1,788.02 points.
The futures market mirrored the negative sentiment observed in spot trading. The September 2026 MASI20 futures contract fell 0.72% to 1,327.70 points, while the December 2026 contract declined 0.71% to 1,337.20 points. Looking further ahead, the March and June 2027 contracts dropped 0.73% and 0.74% respectively.
Market Capitalization and Volume Metrics
Total transaction volume on the central market reached 279,136,757 dirhams for the session, while the overall market capitalization stood at 1.081 trillion dirhams.
Individual Stock Movers
Top Gainers:
- NEJ led the advancers with a 6.00% surge to 5,621.00 dirhams
- REB climbed 5.85% to 103.85 dirhams
- M2M advanced 4.33% to 414.55 dirhams
- LES gained 3.33% to 310.00 dirhams
- ALM rose 2.14% to 1,859.00 dirhams
Significant Decliners:
- CRS suffered the steepest loss, plummeting 9.09% to 20.00 dirhams
- ARD dropped 6.27% to 449.90 dirhams
- SNP declined 4.89% to 331.00 dirhams
- GTM fell 4.75% to 600.10 dirhams
- IBC retreated 3.76% to 56.11 dirhams