Casablanca Bourse: MASI Extends Consolidation Amid Modest Volume

• On 24 September 2025, the Moroccan stock market saw continued consolidation, with the MASI index sliding –0.77% to 19,617.53 points, bringing year-to-date gains to about +32.79%.

• The MASI 20 lost –0.87%, and MASI ESG fell –0.67%.

• Trading volume was subdued, at MAD 402.7 million, concentrated largely in the central market.

• Top gainers included SBM (+8.49%), Promopharm (+5.58%), and Ciments du Maroc (+4.92%).

• Top losers were HPS (–10.00%), AGMA (–5.97%), Oulmes (–3.15%), and others.

• The market capitalization stood at MAD 1,036 billion.

• Tech: HPS led in turnover (~MAD 42 million), though trading was erratic, and major names like Marsa Maroc and Attijariwafa Bank saw declines.

Interpretation & Outlook:

The session reflects investor caution, as the MASI continued its sideways move. Weak breadth and limited flows suggest that market participants are waiting for fresh catalysts. Large caps remain in focus for liquidity, but volatility may persist until clearer macro or policy signals emerge.