Stocks Market
Casablanca Stock Exchange Rebounds: MASI Index Climbs 0.60% in Tuesday Trading
Morocco's benchmark MASI index recovered on Tuesday, posting a 0.60% gain to close at 17,754 points after touching session lows the previous day. The positive performance helped narrow the index's year-to-date decline to 5.79%, with SGTM dominating trading volumes at 200 million dirhams out of a total 418 million dirhams exchanged on the central market.
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The Casablanca Stock Exchange experienced a welcome turnaround on Tuesday, with the MASI index posting solid gains after Monday's disappointing close at session lows. The benchmark index advanced 0.60% to settle at 17,754 points, providing some relief to investors concerned about the year's overall performance.
Index Performance and Market Activity
Despite the day's positive momentum, the MASI remains down 5.79% since the beginning of the year. The MASI 20, which tracks the exchange's most liquid stocks, followed a similar trajectory, climbing 0.46% to reach 1,284.56 points.
Trading activity on the central market totaled 418 million dirhams, representing a notable decrease from the previous session's volume of approximately 647 million dirhams. The decline in overall volumes suggests investors may be adopting a more cautious approach despite the day's gains.
Top Volume Contributors
SGTM dominated trading activity, accounting for nearly half of the day's total volume with 200 million dirhams in transactions. The stock posted a modest gain of 0.49%, closing at 610 dirhams. TGCC and BCP ranked as the second and third most actively traded securities, generating volumes of 40 million and 33 million dirhams respectively.
Session Winners Lead the Rally
Oulmès emerged as the session's standout performer, surging 5.96% to 1,156 dirhams in a strong rebound from Monday's decline. The beverage company's sharp recovery demonstrated renewed investor confidence in the stock.
BMCI also delivered impressive gains, advancing 5.45% to close at 580 dirhams, contributing to the broader market's positive sentiment and helping lift the benchmark index into green territory.