By The Rio Times | Created at 2026-10-03 07:36:52 | Updated at 2026-10-03 08:22:17
1 hour ago
Key Facts
- A hard end to the week in Casablanca: Morocco’s main index opened higher, then lost ground all day and closed down on Friday 2 October
- The MASI fell 1.57% to 17,303.69 points, down about 275 points from Thursday’s 17,579.17, and 2.89% lower over the week
- The MASI 20 of the most liquid stocks fell 1.64% to 1,249.35 points, and the MASI Mid and Small Cap lost 2.18% to 1,679.86
- Turnover rose to 259.6 million dirhams (US$26.1 million), with Label’Vie the most traded stock at 38 million dirhams (US$3.8 million)
- The dirham weakened sharply: the US dollar rose 1.32% to 9.937 dirhams, and is up 3.4% in a week
- Why it matters: holding companies, retailers and hotels led the fall, while pharmaceuticals were the only sector to gain
Today’s Focus
Morocco’s stock market had a bad Friday. The MASI, the benchmark of the Casablanca Stock Exchange, fell 1.57% to 17,303.69 points and ended a weak week near its lows.
The index had opened 0.55% higher at 17,675.69 points. Buyers did not last, and the MASI turned negative during the session.
Holding companies lost 4.63%, the sharpest sector fall. Pharmaceuticals rose 5.62% and were the only sector in the green.
The dirham also lost ground. A dollar now buys 9.937 dirhams, up from 9.611 a week earlier.
What matters today. The loss was broad and heavier than Thursday’s 0.87%. Smaller companies fell harder than large ones.
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01 The session in one read
The MASI, short for Moroccan All Shares Index, tracks every share listed on the Casablanca Stock Exchange. It fell 1.57% to 17,303.69 points on Friday, a loss of about 275 points.
The day began well. The index rose 0.55% at the open to 17,675.69 points. It then slid through the session and finished in the red.
The MASI 20, which follows the 20 most liquid stocks, fell 1.64% to 1,249.35 points. The MASI ESG index, which tracks companies with strong sustainability ratings, lost 1.64% to 1,280.56. The MASI Mid and Small Cap index dropped 2.18% to 1,679.86.
Turnover was 259.6 million dirhams (US$26.1 million). Thursday’s central-market turnover was 152.47 million dirhams (US$15.3 million), on a narrower basis. Market capitalisation ended the week at 1,019.08 billion dirhams (US$102.6 billion).
Assessment: A broad decline with a defensive pocket MEDIUM
Selling hit every size of company. The steeper fall in the mid and small caps shows that investors also left the less liquid names, not only the blue chips. Higher turnover on a falling day usually signals real selling rather than a pause. The one defensive pocket was pharmaceuticals, where Sothema rose 6.06%. Over five weeks the MASI has lost about 8.6% from its 28 August level of 18,931.06 points. Our own calculation puts the loss since the start of the year near 8%. Until buyers return in size, Friday’s close reads as a continuation of that decline, not a turning point.
02 The day’s numbers
| MASI | 17,303.69 | −1.57% | Week: −2.89%; open was +0.55% |
| MASI 20 | 1,249.35 | −1.64% | Most liquid stocks fell more than the broad index |
| MASI ESG | 1,280.56 | −1.64% | Best-rated ESG companies also lower |
| MASI Mid and Small Cap | 1,679.86 | −2.18% | Smaller companies fell hardest |
| USD/MAD | 9.9370 | +1.32% | Dirham weaker against the dollar |
| Turnover | MAD 259.6m | — | About US$26.1 million |
The MASI has now fallen in each of the last two sessions. Thursday’s close of 17,579.17 was the low of that day, and Friday broke below it by a wide margin.
The dirham does not float freely. Bank Al-Maghrib, the central bank, sets a central rate from a basket made up of 60% euro and 40% US dollar. The dirham may move up to 5% either side of that rate. When the dollar firms against the euro, the dirham usually loses ground against the dollar.
Our market data put the dollar at 9.9370 dirhams on Friday, against 9.8077 on Thursday. That is a 1.32% rise, and a 3.4% rise from the 9.611 of Friday 25 September. The cause is not stated in the sources we checked, so we do not assign one.
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| SPX | 7,751 | +0.29% | — | — | — | — | — |
| NDX | 29,799 | +0.93% | — | — | — | — | — |
| DJI | 53,810 | +0.03% | — | — | — | — | — |
| RUT | 3,041 | +0.46% | — | — | — | — | — |
| US10Y | 4.6760 | -0.17% | — | — | — | — | — |
| VIX | 14.60 | -4.45% | — | — | — | — | — |
| DAX | 26,331 | -0.23% | — | — | — | — | — |
| FTSE | 10,833 | -0.10% | — | — | — | — | — |
| CAC | 8,675 | -0.46% | — | — | — | — | — |
| STOXX | 659.48 | -0.16% | — | — | — | — | — |
| NIKKEI | 67,524 | +0.83% | — | — | — | — | — |
| HSI | 25,440 | -0.83% | — | — | — | — | — |
| KOSPI | 6,579 | +3.68% | — | — | — | — | — |
| CSI300 | 4,691 | +0.58% | — | — | — | — | — |
| NIFTY | 24,436 | -0.15% | — | — | — | — | — |
| TSX | 36,619 | +0.39% | — | — | — | — | — |
| GOLD | 4,461 | +1.78% | +33.20% | 4,383 | 4,503 | 4,421 | 139,824 |
| SILVER | 65.59 | +1.26% | +73.05% | 64.77 | 66.98 | 64.81 | 46,406 |
Largest moves today
VIX 14.60 -4.45%
KOSPI 6,579 +3.68%
GOLD 4,461 +1.78%
SILVER 65.59 +1.26%
NDX 29,799 +0.93%
NIKKEI 67,524 +0.83%
HSI 25,440 -0.83%
CSI300 4,691 +0.58%
The session read
The S&P 500 rose 0.29%, with breadth positive — 9 of 15 names higher. KOSPI led, while HSI lagged.
03 Why it moved: sectors and big names
The selling was spread across the market. Holding companies were the weakest sector, down 4.63%. Distributors lost 4.24%, and leisure and hotels fell 4.14%.
Pharmaceuticals bucked the trend with a gain of 5.62%. It was the only sector to rise.
Sothema gained 6.06% to 350 dirhams (US$35.22). Elsewhere, Disway, a technology distributor, rose 3.57% to 752 dirhams (US$75.68). Property developer Résidences Dar Saada added 1.88% to 163 dirhams (US$16.40).
The heaviest trading was in consumer and logistics names. Label’Vie, the retail group, led with 38 million dirhams (US$3.8 million). Sodep-Marsa Maroc, which runs container terminals in Casablanca, followed with 24.67 million dirhams (US$2.5 million). Attijariwafa bank, the country’s largest lender, traded 20.69 million dirhams (US$2.1 million).
04 Friday’s session, step by step
Here is how the day unfolded on the Casablanca Stock Exchange.
Opening. The MASI began the session 0.55% higher at 17,675.69 points. Early buyers gave the market a positive start.
Afternoon. The gain disappeared and the index fell steadily. By the close it was down 1.57%.
Close. The MASI ended at 17,303.69. The MASI 20 fell 1.64%, and the mid and small cap index fell 2.18%.
Turnover. Trading reached 259.6 million dirhams (US$26.1 million). Label’Vie, Sodep-Marsa Maroc and Attijariwafa bank were the three most traded stocks.
05 The day’s movers
| Label’Vie | Not reported | n/a | Most-traded stock: MAD 38m (US$3.8m) |
| Sodep-Marsa Maroc | Not reported | n/a | MAD 24.67m (US$2.5m) traded |
| Attijariwafa bank | Not reported | n/a | MAD 20.69m (US$2.1m) traded; largest bank |
| Sothema | MAD 350.00 (US$35.22) | +6.06% | Top gainer; pharmaceuticals +5.62% |
| Disway | MAD 752.00 (US$75.68) | +3.57% | Technology distributor rebounded |
| Résidences Dar Saada | MAD 163.00 (US$16.40) | +1.88% | Recovered part of Thursday’s 6.43% fall |
| Réalisations Mécaniques | MAD 433.35 (US$43.61) | −6.00% | Engineering name among the weakest |
| Stokvis Nord Afrique | MAD 46.18 (US$4.65) | −10.00% | Biggest loser of the session |
Label’Vie set the tone for trading, with 38 million dirhams (US$3.8 million), about 15% of the day’s turnover. The sources we used did not publish its closing price or change, so we leave both out.
Stokvis Nord Afrique fell 10% to 46.18 dirhams (US$4.65), the largest drop of the day. It also fell 9.98% on Thursday, so the stock has lost almost a fifth of its value in two sessions.
On the other side, Sothema led the gainers at 6.06%. Résidences Dar Saada gained 1.88% a day after falling 6.43%. We leave out moves in shares where only a handful of trades took place.
06 The regional scoreboard
| MASI | Morocco | −1.57% |
| MASI 20 | Morocco | −1.64% |
| MASI Mid and Small Cap | Morocco | −2.18% |
Egypt’s EGX30 does not trade on Fridays, so there is no regional comparison for this session. Its last close was 53,055.03 points on Thursday.
Casablanca therefore stands alone this evening. For foreign investors the message is simple: the week ended with the broad market, not just a few stocks, under pressure.
07 What the economic data said
Morocco’s official statistics gave a firmer picture than the stock market on Friday. Three releases are worth knowing.
Foreign investment. The Office des Changes, Morocco’s exchange control authority, reported that net foreign direct investment reached 34.334 billion dirhams (US$3.46 billion) in the first eight months of 2026. That is 65% more than a year earlier, when the figure was 20.81 billion dirhams (US$2.09 billion). At the end of June the increase had been 31.5%.
Car exports. Automotive exports rose 14.5% to 116.148 billion dirhams (US$11.7 billion) over the same eight months, according to the Office des Changes. Aerospace grew 21.5% and vehicle assembly 26.9%.
Bank credit. Bank Al-Maghrib reported that outstanding bank credit stood at 1,292.3 billion dirhams (US$130.1 billion) at the end of August, up 11.3% on the year. Deposits were 1,431.9 billion dirhams (US$144.1 billion), up 10%. Loans to households grew only 3.4%, against 17.4% for equipment loans to companies.
The gap matters for readers. Investment, exports and corporate lending are growing, while the stock index falls. Shares do not always follow the economy, and the MASI has lost about 8.6% since 28 August despite these figures. The conversions in this section use Friday’s rate of 9.937 dirhams per dollar.
08 What to watch
- Monday’s session: whether the MASI holds above 17,300 after Friday’s close, and whether turnover stays above 250 million dirhams
- Pharmaceuticals: whether Sothema and its peers keep rising, since the sector was the only one to gain
- The dirham: the dollar at 9.937 dirhams is the highest on our six-month chart
- Calendar: our economic calendar lists no Moroccan data releases for Friday 2 October or for the week of 5 October
Background: Morocco Lets Foreigners Buy Homes and Shares but Not Farmland, Opening a Bank Account in Morocco as a Foreigner and Morocco Explained: The Kingdom, Its Economy and What to Watch. More from our Morocco page.
Frequently Asked Questions
What is the MASI?
The MASI, or Moroccan All Shares Index, is the main index of the Casablanca Stock Exchange. It tracks all shares listed on the market.
How did the MASI perform on 2 October 2026?
The MASI fell 1.57% to 17,303.69 points on Friday 2 October 2026.
Which stock was the most traded in Casablanca on Friday?
Label’Vie was the most traded stock, with 38 million dirhams (US$3.8 million) of the 259.6 million dirhams (US$26.1 million) traded.
Which sector rose on Friday?
Pharmaceuticals were the only sector to rise, gaining 5.62%. Sothema climbed 6.06% to 350 dirhams (US$35.22).
How is the Moroccan dirham’s exchange rate set?
Bank Al-Maghrib sets a central rate from a basket of 60% euro and 40% US dollar. The dirham may move up to 5% either side of that rate.
Source: Casablanca Stock Exchange session data for Friday 2 October 2026, as published by InfoMagazine and the MAP news agency via LeSiteinfo; Office des Changes data via LesEco.ma and InfoMagazine; credit data from Bank Al-Maghrib via InfoMagazine; exchange-rate regime from Bank Al-Maghrib; USD/MAD from RT live market data.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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