The sharpest contrast on the Casablanca stock exchange today came from a stock few would have expected to dominate the tape. While the MASI index fell 0.42% to 17,800.62 on Tuesday, July 28, 2026, Zellidja S.A surged 6.3% to MAD 229.7, standing out in a session that was otherwise mildly risk-off. What makes the move more striking is that the MASI Mid and Small Cap index also slipped 0.37% to 1,759.94, meaning Zellidja’s rise was stock-specific rather than a broad mid-cap rally.
That divergence unfolded against a difficult macro backdrop for the Morocco stock market. Brent crude dropped 6.2% on the day to $82.86 a barrel and is now down 17.7% over one week, while the dirham weakened sharply, with EUR/MAD up 3.54% to 10.685 and USD/MAD up 3.44% to 9.3813. For Casablanca-listed companies, that mix matters: lower oil prices are broadly positive for Morocco as a net energy importer, but a weaker currency can offset part of that benefit by raising the local-currency cost of imported fuel, equipment and inputs.
Key figures
- MASI: 17,800.62 (-0.42%)
- Zellidja: MAD 229.7 (+6.3%)
- Brent: $82.86 (-6.2% day, -17.7% week)