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Stock Markets January 30, 2026 10:10 AM

Casablanca benchmarks slip as utilities, banks and miners weigh on market

Moroccan All Shares index falls 1.52% as select insurers and industrials outperform while miners lead declines

By Avery Klein BCI CMT

Moroccan equities closed lower on Friday, with the Moroccan All Shares index down 1.52%. Gains among select insurers and industrial firms were offset by steep losses in major mining names. Market breadth favored decliners, while oil, gold and currency moves showed mixed signals across commodities and foreign exchange.

Casablanca benchmarks slip as utilities, banks and miners weigh on market
BCI CMT

Key Points

  • The Moroccan All Shares index closed down 1.52% following losses led by Utilities, Banking and Mining sectors.
  • Top gainers included Wafa Assurance (WAA), Realis. Mecaniques (SRM) and Marocaine pour le Commerce et l’Industrie Banque SA (BCI).
  • Major declines were recorded in mining names SMI, Miniere Touissit (CMT) and Managem (MNG); overall breadth favored decliners (44 vs 12).

Moroccan equities finished the trading day in the red on Friday as weakness in the Utilities, Banking and Mining sectors pulled the benchmark down. At the close in Casablanca, the Moroccan All Shares index recorded a drop of 1.52%.

Among individual stocks, the session's strongest performers included Wafa Assurance (CSE:WAA), which climbed 8.25% - a rise of 376.00 points - to finish at 4,934.00. Realis. Mecaniques (CSE:SRM) added 5.72%, gaining 25.95 points to end at 479.95. Marocaine pour le Commerce et l’Industrie Banque SA (CSE:BCI) also showed strength, rising 4.83% or 29.00 points to close at 630.00.

Conversely, several miners and other large-cap names were among the session's heaviest decliners. SMI (CSE:SMI) led the losers, falling 9.99% - down 734.00 points - to trade at 6,616.00 at the close. Miniere Touissit (CSE:CMT) slipped 9.97%, a decline of 285.00 points to 2,575.00, while Managem (CSE:MNG) fell 5.16% or 449.00 points to finish at 8,251.00.

Market breadth on the Casablanca Stock Exchange tilted decisively toward falling stocks, with 44 issues declining versus 12 advancing and 6 ending unchanged.

Commodities showed mixed moves on the session. Crude oil for March delivery rose 0.40% or 0.26 to $65.68 a barrel. Brent crude for April delivery was up 0.40% or 0.28, reaching $69.87 a barrel. April Gold Futures moved lower, falling 6.12% or 327.51 to trade at $5,027.29 a troy ounce.

Currency pairs involving the Moroccan dirham also shifted: EUR/MAD increased 0.18% to 10.84, while USD/MAD rose 0.64% to 9.10. The US Dollar Index Futures was higher on the session, up 0.49% at 96.61.

Overall, the trading day featured notable outperformance from a handful of insurers and industrial stocks, but broader market direction was dictated by losses in mining and other heavyweight sectors, resulting in a net decline for the Moroccan All Shares index.

Risks

  • Concentrated declines among mining stocks may exert continued pressure on the broader market - primarily affecting the Mining sector.
  • Moves in commodity prices, including oil and gold, introduce volatility that can influence energy- and commodity-linked equities.
  • Exchange rate shifts in EUR/MAD and USD/MAD could affect exporters, importers and foreign-currency-sensitive sectors within Morocco.

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