Minière Touissit rose 3.4% to MAD 4,290 on MAD 10.6 million in turnover as Casablanca’s market gained 0.58%. The mining stock outperformed despite a 1.2% drop in gold, while the MASI Mid and Small Cap added 0.81%.
|5 min read
A rebound on the Casablanca market on Wednesday, October 7, 2026 found its clearest symbol in Minière Touissit, whose shares rose 3.4% to MAD 4,290 on MAD 10.6 million in turnover, one of the session’s most visible flows outside the heavyweight banks. The move stood out because it came even as gold fell 1.2% to $4,135.6 an ounce and Brent crude held at a high $100.82 a barrel, a global backdrop that would normally offer little comfort to industrial and mining names facing elevated energy costs.
Key figures
- MASI: 16,990.77 points (+0.58%, YTD -9.85%)
- Minière Touissit: MAD 4,290 (+3.4%) on MAD 10.6 million turnover
- MASI Mid and Small Cap: 1,637.12 points (+0.81%, YTD -11.1%)
- 35 gainers versus 17 losers across 81 listed stocks
- Brent: $100.82/bbl; EUR/MAD: 11.151 (+2.87%)
Market context: MASI index recovers, breadth turns constructive
The MASI index closed at 16,990.77, up 0.58%, while the MASI 20 added 0.61% to 1,229.55 and the MASI ESG rose 0.43% to 1,256.01. The session looked firmer than the year-to-date picture suggests: despite Wednesday’s gain, MASI is still down 9.85% in 2026, while MASI 20 remains lower by 17.24%, showing that large caps have yet to recover from the correction seen over recent months.
Market breadth was healthier, with 35 advancers, 17 decliners, and 29 unchanged names. Small and mid-caps outperformed the benchmark, with the MASI Mid and Small Cap index rising 0.81% to 1,637.12, though it is still down 11.1% year to date. In the Casablanca stock exchange today, that relative strength points to selective risk-taking in cyclical and overlooked names rather than a purely index-driven move in the biggest stocks.
Turnover remained concentrated in Attijariwafa Bank at MAD 61.1 million, Managem at MAD 31.9 million, Marsa Maroc at MAD 20.3 million, Akdital at MAD 12.9 million, and Minière Touissit at MAD 10.6 million. That ranking underlines how concentrated the Morocco stock market remains, but CMT’s presence among the top five traded names gave the day’s mining move real weight.
Minière Touissit: a rally that says more than commodity screens
Minière Touissit’s rise matters because it did not simply mirror the commodity tape. Gold fell 1.2%, silver 1.6%, platinum 2.6%, and palladium 3.1% globally, against a backdrop shaped by geopolitical tension around Iran and trade barriers that are distorting commodity pricing, according to the global headlines provided. On the surface, that combination should have weighed on sentiment toward mining stocks in Casablanca.
Instead, the market appeared to make a more nuanced call. First, CMT’s 3.4% gain came with MAD 10.6 million in turnover, giving the move more credibility than a thinly traded bounce. Second, the stock sits in a segment where local investors often balance metal exposure, relative defensiveness, and scarcity value on the exchange. In a session where SNEP jumped 5.2% to MAD 298.8 and Delta Holding climbed 5.1% to MAD 48.98, CMT’s rise fitted into a broader rotation toward industrial and transformation names.
Foreign exchange also matters. EUR/MAD rose 2.87% to 11.151, a meaningful move for Moroccan companies exposed to euro-denominated equipment imports, raw materials, or export markets. For miners, the effect is never one-directional: a weaker dirham against the euro can lift the local-currency value of some export-linked revenue, while also increasing certain operating costs. On Wednesday, the market seemed to focus more on operational resilience than on the negative signal from precious metals.
Why Moroccan mining stocks held up in a mixed session
CMT’s resilience contrasted with a 3.9% drop in SMI to MAD 5,700 and a 10.0% slide in Zellidja to MAD 234.1. That divergence is a reminder that “Moroccan mining stocks” are not a single trade. Each name reacts to its own cost base, metal mix, liquidity profile, and market expectations. In any serious Casablanca stock market analysis, sector calls need to be paired with company-specific reading.
Brent at $100.82 a barrel remains a key variable for Moroccan equities. Morocco is a net energy importer, so oil above $100 can pressure industrial margins, freight costs, and eventually inflation expectations. That is why CMT’s gain carried more information value than a simple closing print: the stock advanced despite an energy backdrop that offers no obvious tailwind to extractive and industrial businesses.
Other movers on the Casablanca market
Beyond Minière Touissit, the session was supported by several pockets of strength. BCP rose 3.7% to MAD 247.0, BMCI gained 4.1% to MAD 564.0, Cosumar added 2.9% to MAD 175.0, and Afriquia Gaz climbed 2.9% to MAD 3,600.0. That mix of banks, defensive consumption, and downstream energy shows the rebound was not confined to one theme. It also came after recent pressure on the market, following the backdrop discussed in our related piece, Attijariwafa draws MAD 44.5m as MASI falls 1.56% in a pressured market.
On the downside, several names showed that the market remains highly selective. Addoha fell 3.2% to MAD 30.5, Lesieur Cristal lost 3.3% to MAD 290.0, HPS slipped 0.8% to MAD 531.0, and CIH dropped 1.0% to MAD 307.0. For Addoha, the decline came even as media coverage highlighted its African urban development footprint, showing that a supportive narrative does not automatically translate into daily stock performance.
Outlook: what to watch next in the Morocco stock market
From here, the key question is whether the MASI index can extend this rebound beyond a single session while still down 9.85% year to date. The market will also track Brent around $100, the path of EUR/MAD after its 2.87% jump, and any fresh research from BKGR, Attijari Global Research, or CDG Capital on industrial and mining names. For Minière Touissit, the next test is not a price target but whether the stock can sustain turnover near MAD 10.6 million in a global setting where precious metals are weakening and energy costs remain elevated.
