Casablanca Stock Exchange's MASI Surges Over 20% in Q1 2025

The Casablanca Stock Exchange's main index, the MASI (Moroccan All Shares Index), experienced a remarkable surge of 20.19% in the first quarter of 2025, concluding at 17,756.02 points. This impressive performance is a continuation of a strong start to the year, marked by a 2.13% rise on the very first trading day.

The MASI, which encompasses all listed shares and is calculated based on free-float market capitalization, has a base value of 1,000 established on December 31, 1991. Alongside the MASI, other key indices also demonstrated significant growth. The MASI.20, which tracks the 20 most liquid companies, increased by 21.21% to reach 1,446.08 points, while the MASI.ESG, which focuses on companies with top ESG ratings from Moody’s ESG Solutions, rose by 17.64% to 1,217.24 points. The MASI Mid and Small Cap index, which evaluates the performance of smaller listed firms, climbed 15.28% to 1,771.13 points.

In terms of trading volume, Q1 2025 saw a total of MAD 33.48 billion ($3.348 billion), with MAD 21.55 billion ($2.155 billion) transacted on the central market and MAD 1.71 billion ($171 million) through block trades. The overall market capitalization stood at MAD 925.25 billion ($92.525 billion).

Sector performance was led by the electricity sector, which experienced a staggering 72.39% increase. This was followed closely by mining at 59.75% and telecommunications at 49.37%. However, the beverages sector faced a decline, falling by 8.35%.

AttijariWafa Bank was the leader in trading activity, recording a volume of MAD 3.52 billion ($352 million). It was followed by Itissalat Al Maghrib with MAD 2.8 billion ($280 million) and Sodep-Marsa Maroc at MAD 2.11 billion ($211 million).

Among individual stocks, Stokvis Nord Afrique showcased the most significant gain, skyrocketing by 213.38% to MAD 51.30 ($5.13) per share. Other notable performers included Fénie Brossette (+162.09% to MAD 279 [$27.90]), Sonasid (+93.11% to MAD 1,900 [$190]), Maghreb Oxygène (+84.86% to MAD 453 [$45.30]), and S.M Monétique (+82.13% to MAD 428 [$42.80]).

Conversely, Société des Boissons du Maroc faced the largest loss, dropping 11.02% to MAD 2,100 ($210). Other declines were seen in Rebab Company (-10% to MAD 90 [$9]), Eqdom (-8.94% to MAD 1,110 [$111]), Cartier Saada (-5.71% to MAD 33 [$3.30]), and Bank Of Africa (-4.44% to MAD 195.90 [$19.59]).