The Moroccan stock market ended Wednesday on a positive note, with the Moroccan All Shares Index (MASI) rising by 0.39%. The day’s gains were mainly driven by strong performances in the Real Estate, Hotels, Restaurants & Leisure, and Transport sectors.
This upward movement reflects investor confidence in some of Morocco’s key industries, even as certain stocks faced declines.
Real Estate and Utilities Stocks Lift the Market
Leading the gains on the Casablanca Stock Exchange (CSE) was Maghreb Oxygene SA (CSE:MOX). The company’s stock surged by 6.62%, or 27.95 points, closing at 449.95 MAD. This chemical and industrial gas producer has seen increased interest from investors due to recent industrial growth across Morocco.
Societe des Boissons du Maroc SA (CSE:SBM), a major player in Morocco’s beverage industry, also posted solid gains. The stock rose 5.50%, or 110.00 points, finishing the day at 2,110.00 MAD. The uptick may reflect increased consumer demand and optimism in the food and beverage sector.
Taqa Morocco SA (CSE:TQM), a key electricity producer, closed up 4.29%, or 90.00 points, at 2,190.00 MAD. Energy demand in Morocco continues to rise, and the company remains one of the country’s largest private producers of thermal power.
Underperformers: Tech and Transport Stocks Slide
On the downside, Micro Data SA (CSE:MIC) saw the biggest decline of the day, dropping 3.52% or 29.90 points to 820.00 MAD. This drop follows broader concerns about performance in Morocco’s tech and IT services sector.
Realisations Mecaniques (CSE:SRM), a firm specializing in mechanical engineering, fell 3.33%, closing at 403.00 MAD. Meanwhile, CTM (CSE:CTM), a national transportation company, declined 2.99% to end the session at 934.00 MAD.
Despite the mixed day for individual stocks, the market showed resilience, with 31 stocks advancing, 23 declining, and 5 closing unchanged.
Commodity Markets Support Investor Sentiment
In global commodity trading, prices rose across key sectors, providing an additional boost to market sentiment.
- Crude Oil (May Delivery) increased by 1.84% to $62.46 per barrel.
- Brent Oil (June Delivery) climbed 1.59% to $65.70 per barrel.
- Gold Futures (June Contract) jumped by 2.55%, trading at $3,322.89 per troy ounce.
The rise in oil prices bodes well for Morocco, which has growing energy ties across North Africa and Europe. Likewise, gold’s spike signals a flight to safety among global investors.
Currency Market Update
On the foreign exchange front, the Moroccan Dirham (MAD) showed mixed performance:
- The Euro (EUR/MAD) edged up by 0.10%, reaching 10.55.
- The U.S. Dollar (USD/MAD) slipped 0.17% to 9.28.
The U.S. Dollar Index Futures dropped 0.70%, settling at 99.26, reflecting global shifts away from the greenback due to inflation and interest rate concerns.
Broader Market Context
Morocco’s stock market performance comes at a time when emerging markets are under increasing investor scrutiny. Analysts at Wallstreet Updates note that Morocco’s diversified economy, including its strong tourism, manufacturing, and renewable energy sectors, is helping to support the Casablanca Stock Exchange’s growth.
“Morocco has shown resilience in recent quarters, especially with tourism and energy bouncing back,” said economic analyst Amina Kettani. “Stocks in real estate and utilities are reflecting this optimism.”
Investors are also watching how Morocco’s public investment strategies and private sector reforms may influence market momentum through the second quarter of 2025.
