Morocco’s main stock index is heading into the last quarter of 2026 well below where it started the year. The MASI, the benchmark of the Casablanca Stock Exchange, closed at 16,934.59 points on October 20, which put it 10.14% lower since the start of January, according to the daily market report from BoursNews.
Where the market stands
The October 20 session ended with a 0.24% daily decline on about MAD 100.6 million traded on the central market. A day earlier, the index had closed at 16,975.82 points, down 0.13%, with total market capitalization at MAD 999.9 billion, just short of the symbolic MAD 1 trillion mark. By October 20 that figure was MAD 997.5 billion.
The sub-indices tell a mixed story, based on the same BoursNews figures for October 20:
- MASI 20, which tracks the largest stocks, was down 17.65% since the start of the year.
- MASI Mid, covering mid-sized companies, was down 12.67%.
- MASI ESG, which focuses on companies with strong environmental, social and governance profiles, was almost flat at minus 0.06%.
What market operators have pointed to
Le Matin reported on October 6 that the MASI had fallen 1.56% in a single session to 16,892 points, a level last seen in March, leaving it down 10.37% for the year. Market operators quoted by the newspaper cited investment funds locking in gains, as well as international geopolitical tensions and their effect on energy prices.
That session was also much busier than recent ones, with roughly MAD 349 million traded on the central market and 54 stocks falling against 10 rising, Le Matin said. Trading has been noticeably lighter since, with volumes around MAD 100 million to MAD 114 million in the two sessions reported by BoursNews.
For context, Morocco’s real economy continues to grow: the IMF’s October outlook sees Morocco growing 4.5% this year, so the weaker stock market reflects investor sentiment and global conditions rather than a slowdown in output.
With the index hovering close to its early-October lows and market value just under MAD 1 trillion, investors will be watching whether trading volumes pick up and whether energy prices and global financial conditions ease in the coming weeks.
Sources: BoursNews, October 20 close; BoursNews, October 19 close; Le Matin
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