Casablanca Stock Exchange — MASI Gains 0.96% for the Week as Maroc Leasing Jumps 5.7%
The MASI rose 0.96% to 18,474.84 in the week of June 29-July 3, 2026, led by large caps while mid and small caps slipped 0.26%. Maroc Leasing posted the top gain at 5.7% as dividend detachments and selective buying shaped trading.
|7 min read
Moroccan equities ended the week of June 29 to July 3, 2026 on a firmer footing, with the MASI up 0.96% at 18,474.84, as large caps carried the market even while smaller names lagged. The split was clear: the MASI 20 rose 1.20% to 1,358.42 and the MASI ESG added 1.01% to 1,316.9, while the MASI Mid and Small Cap index slipped 0.26% to 1,839.82.
Key figures
- MASI: +0.96% for the week at 18,474.84
- MASI 20: +1.20% ; MASI ESG: +1.01%
- 35 gainers, 21 losers, 24 unchanged
- Maroc Leasing +5.7% at 369.9 MAD, top weekly gainer
For anyone tracking the Casablanca stock exchange today, the week’s close showed a market that was stronger beneath the headline index than a simple daily snapshot might suggest. Breadth was positive, with 35 stocks up, 21 down and 24 unchanged out of 80 listed names in the dataset. Even so, the rally was not broad enough to pull the mid- and small-cap segment higher, which explains the 0.26% decline in that index.
Sector composition mattered, as it often does in Casablanca. Banks, port operators, private healthcare and construction names delivered most of the upside, with trading concentrated in a handful of liquid counters. rose on in turnover, while gained on . added with traded. That concentration of flows into liquid names helps explain why the outperformed the broader market.
Global macro also helped shape the Morocco stock market backdrop. Brent crude fell 1.4% over the week to $72.13 a barrel, as international headlines increasingly pointed to a market moving away from shortage fears and toward a possible supply surplus by year-end. For Morocco, a net energy importer, softer oil is generally supportive because it eases the import bill and can improve margin expectations across domestic sectors, even if the transmission is uneven and delayed. At the same time, USD/MAD fell 0.36% to 9.3682, slightly reducing pressure on dollar-priced imports, while EUR/MAD jumped 3.31% to 10.709, a more challenging move for companies with euro-denominated procurement costs.
Main story: a selective rally rather than a market-wide surge
The key takeaway from this Casablanca stock market analysis is that the weekly rise in the MASI was driven by stock selection rather than a broad-based rally. Maroc Leasing (MRL) posted the strongest gain of the week, climbing 5.7% to 369.9 MAD, ahead of M2M Group, up 5.0% to 399 MAD, and Sothema, up 4.7% to 385.95 MAD. Those moves suggest investors were willing to pay up for names offering either clearer operating visibility or tighter free floats that can magnify buying pressure.
The gains in healthcare were especially notable. Sothema rose 4.7%, while Akdital advanced 2.3%, extending investor interest in a sector that combines domestic growth, some pricing power and relative resilience to cyclical swings. According to EcoActu, Akdital was recognized this week for the quality of its ESG reporting, a factor that may strengthen its appeal among institutional investors focused on sustainability metrics, particularly with the MASI ESG itself up 1.01% over the week.
Construction and infrastructure also remained in focus. TGCC gained 2.1%, supported by press reports that, according to Medias24, the company secured a contract worth more than MAD 1 billion at the Grand Stade d’Agadir, while Le Matin and InfoMaroc reported on capital moves involving Safettras. While those reports are not a substitute for full financial disclosure, they reinforce the market’s view that order books in construction and public works remain solid as Morocco moves deeper into a major infrastructure investment cycle.
Dividends, turnover and technical flows shaped the week
The week was also heavily influenced by a dense calendar of dividend detachments, a technical factor that often distorts the reading of the MASI index if taken at face value. Official announcements showed ex-dividend dates for BCP and ALM on June 30, for MNG, SMI, MIC and AGM on July 1, and for HPS on July 2, following BCI on June 29 and NKL on June 26. Based on Casablanca Stock Exchange notices, those adjustments mechanically weighed on some individual price performances while prompting rotation into names with cleaner post-dividend setups.
That context helps explain why BCP was flat at 0.0% despite MAD 14.38 million in turnover, and why Attijariwafa Bank still managed to rise 2.1% to 714.8 MAD on MAD 35.92 million traded. Without making it the centerpiece here, since the stock has featured prominently in recent coverage, its weight in the index remains critical. Banks continue to dominate the MASI by market capitalization, and their weekly direction still determines a large share of the benchmark’s move.
The exchange also published a notice on July 1 regarding the volume condition applied to share buyback programs. That did not trigger an immediate stock-specific reaction, but it matters structurally in a market where liquidity remains concentrated in a relatively small number of names and where buybacks can influence trading dynamics.
Winners and losers: sharp dispersion under the surface
Beyond the headline movers, the week confirmed a high level of dispersion across the board. Among the notable gainers, Rebab Company rose 4.2% to 98.99 MAD, Fenie Brossette added 3.1% to 278.95 MAD, Disway gained 2.8% to 764 MAD, Risma climbed 2.7% to 342 MAD, and Addoha advanced 2.3% to 35.81 MAD. LafargeHolcim Maroc rose 1.7% to 1,780 MAD, while SGTM added 1.7% to 726 MAD, reinforcing the impression that investors favored names linked to investment, construction and services.
On the downside, several sharp declines underlined how selective the weekly advance really was. Cartier Saada fell 7.6% to 25.4 MAD, Zellidja dropped 6.0% to 189.15 MAD, Société des Boissons du Maroc lost 4.9% to 2,035 MAD, and CTM retreated 4.8% to 847.6 MAD. CMGP Group shed 2.9% to 335 MAD, Auto Hall fell 2.7% to 71 MAD, Cash Plus lost 2.4% to 263 MAD, and Vicenne slipped 1.8% to 353.5 MAD. The 1.7% decline in TotalEnergies Marketing Maroc to 1,500 MAD also fits a week in which lower Brent prices may have affected sentiment around inventory valuation and future margin assumptions, even if fuel marketing economics are more complex than a simple move in crude.
Mining names also paused. CMT slipped 0.9% to 4,835 MAD, despite a supportive precious-metals backdrop, with gold up 1.8% to $4,187.3, silver up 3.6%, and platinum up 2.2%. According to Boursenews.ma, listed miners are now entering a phase where, after the valuation rerating, the market wants clearer evidence of operational delivery. In other words, stronger metal prices alone are no longer enough; investors want to see the impact in output, costs and cash generation.
Outlook: what to watch next week
In the week ahead, the first point to monitor will be the lagged effect of the June 30 to July 2 dividend detachments, along with whether the MASI can hold above 18,400 points and whether rotation into liquid large caps continues. Brent around $72 remains relevant because a sustained softer oil price is broadly positive for Morocco as a net importer, while EUR/MAD at 10.709 bears watching for companies with euro-linked cost bases. In this Morocco market recap, the real test is not only whether the index keeps rising, but whether participation broadens: if the 35 gainers seen this week start to include more mid caps, the market’s advance will look healthier; if not, the MASI may remain dependent on a narrow group of heavyweight stocks.
