The Casablanca Stock Exchange closed the third quarter of 2026 on a downward note, with its main index, the MASI, declining by 2.66% to 17,733.06 points. The market capitalization stood at 1,043.75 billion dirhams during this period. The total volume of transactions reached 21.82 billion dirhams, with 14.06 billion dirhams recorded on the central market. This performance reflects a challenging quarter for the Moroccan stock market.
The MASI 20, which tracks the performance of the 20 most liquid companies, fell by 4% to 1,284.08 points. In contrast, the MASI ESG index, which comprises companies with the best ESG ratings as published by Moody's ESG Solutions, rose by 1.39% to 1,314.85 points. The MASI Mid and Small Cap index, which measures the performance of small and medium-sized listed companies, declined by 5.75% to 1,728.33 points. These divergent trends highlight the varied performances of different segments of the market.
At the sectoral level, 5 sectors ended the quarter in positive territory, while 19 sectors experienced declines. The mining sector index achieved the best performance, rising by 14.85%, followed by the telecommunications sector (+4.03%) and the real estate investment sector (+3.97%). Conversely, the "Portfolio Companies - Holdings" sector index suffered the largest decline, falling by 16.75%, followed by the agri-food and production sector (-13.15%) and the agricultural industry sector (-13.01%).
In terms of trading activity, Managem topped the list of most active stocks with a transaction volume of 1.96 billion dirhams, followed by Attijariwafa Bank with 1.5 billion dirhams and SODEP-Marsa Maroc with 1.12 billion dirhams. These companies were among the most heavily traded on the exchange during the quarter. Their performance reflects the ongoing interest of investors in key sectors of the Moroccan economy.
Several stocks stood out for their positive performances during the quarter. Zellidja saw its stock price rise by 29.27% to 260.1 dirhams, while Managem's stock increased by 18.52% to 1,600 dirhams. Other notable gainers included Fenie Brossette (+17.67% to 334 dirhams), Auto Nejma (+16.28% to 5,621 dirhams), and Promopharm (+9.71% to 1,480 dirhams). These companies demonstrated resilience and strong growth potential.
On the other hand, some stocks experienced significant declines. Cartier Saada's stock price plummeted by 34.97% to 18.73 dirhams, while Stokvis Nord Afrique's stock fell by 21.92% to 57 dirhams. Lesieur Cristal (-19.14% to 300 dirhams), Delta Holding (-17.08% to 50 dirhams), and Auto Hall (-14.97% to 62.5 dirhams) were also among the biggest losers. These declines reflect the challenges faced by certain sectors and companies.
Overall, the Casablanca Stock Exchange's performance in Q3 2026 reflects the complexities and uncertainties of the current economic environment. The market's decline was influenced by various factors, including sectoral trends and company-specific developments. As the market continues to evolve, investors will be closely monitoring key indicators and sectoral performances to make informed decisions.
Key points
- The Casablanca Stock Exchange's main index, the MASI, declined by 2.66% to 17,733.06 points in Q3 2026.
- The mining sector index achieved the best performance, rising by 14.85%, while the "Portfolio Companies - Holdings" sector index suffered the largest decline, falling by 16.75%.
- Managem topped the list of most active stocks with a transaction volume of 1.96 billion dirhams.
