The Moroccan All Share Index (MASI) closed at 17,065.2 on Tuesday, March 17, 2026, gaining 0.72% in a session dominated by banking sector optimism following CIH Bank's full-year 2025 earnings release, which unveiled a 24.4% surge in net profit attributable to the group to MAD 1,089.4 million. The benchmark index has now narrowed its year-to-date decline to 9.45%, while the Mid and Small Cap segment demonstrated superior resilience with a 6.84% YTD loss compared to 12.22% for the large-cap MASI 20, suggesting a rotation toward defensive growth stocks.
Market Context: Favorable breadth despite headwinds
The trading session showed distinctly positive market breadth with 40 advancing stocks against 13 decliners and 7 unchanged out of 60 active listings, according to official Casablanca Stock Exchange data. This upward momentum occurred despite significant challenging global macroeconomic headwinds: Brent crude surged to $102.96 per barrel (up 2.7% daily, 2.5% weekly), pressuring Morocco as a net energy importer and accentuating margin pressure on transport companies and energy-intensive industrials. Simultaneously, the dirham weakened against major currencies with USD/MAD at 9.3578 (+2.59%) and EUR/MAD at 10.803 (+3.26%), potentially fueling inflationary expectations and influencing Bank Al-Maghrib's stance on benchmark interest rates. Gold, the traditional safe haven, climbed to $5,011.9 per ounce (+0.4%), reflecting investor caution amid commodity volatility, while the MASI ESG advanced modestly by 0.62% to 1,175.24 points.
Key figures | Chiffres clés
• MASI: 17,065.2 points (+0.72% daily, -9.45% YTD)
• CIH Bank Net Profit 2025: MAD 1,089.4 M (+24.4%)