On Tuesday, the Moroccan stock market experienced a downturn, closing lower as various sectors, particularly Utilities, Banking, and Mining, faced significant losses. The Moroccan All Shares index decreased by 0.35%, reflecting a broader trend of declining share prices on the Casablanca Stock Exchange. This decline highlights the challenges currently facing the market amid fluctuating economic conditions.
Among the stocks that defied the downward trend, Marocaine Ste de Therapeutique SA (CSE:SOT) emerged as a notable performer, witnessing a substantial increase of 8.24%, which translated to a rise of 28.00 points, closing at 368.00. Additionally, Wafa Assurance (CSE:WAA) saw a gain of 2.66%, or 149.00 points, concluding the trading session at 5,749.00, while Total Maroc SA (CSE:TMA) increased by 2.43%, equating to 38.00 points, to finish at 1,600.00.
Conversely, the worst performers in the market included Maghreb Oxygene (CSE:MOX), which experienced a significant drop of 4.92%, losing 18.80 points to close at 363.20. M2M Group (CSE:M2M) also faced a decline of 3.74%, down 16.00 points to finish at 412.00, and Ennakl Automobiles (CSE:NKL) fell by 3.39%, losing 1.98 points to settle at 56.50. Overall, the trading session saw a greater number of declining stocks, with falling shares outpacing advancing ones by 37 to 20, while 6 stocks remained unchanged.
In parallel to the stock market developments, crude oil prices reflected a notable dip, with June delivery contracts down by 4.31% or 4.59, settling at $101.83 per barrel. Meanwhile, Brent oil for July delivery fell by 3.26%, or 3.73, to reach $110.71 per barrel. On the commodities front, June Gold Futures saw an uptick, rising by 1.29% or 58.65, trading at $4,591.95 per troy ounce. Currency-wise, the EUR/MAD exchange rate decreased by 0.12% to settle at 10.80, while the USD/MAD remained relatively stable, showing a minor change of 0.03% to rest at 9.23. The US Dollar Index Futures also experienced a slight dip of 0.03%, ending at 98.24.
As reported by investing.com.
