Casablanca Stock Exchange: MASI Slips on Friday but Preserves Weekly Gains

The Casablanca Stock Exchange demonstrated a sustained bullish momentum during the third week of February 2026, as the market’s primary benchmarks reflected a period of robust investor conviction. The MASI 20, which monitors the performance of the twenty most liquid and highly capitalized stocks on the exchange, advanced by 0.95% to settle at 1,445.24 points. This weekly appreciation underscores a resilient appetite for large-cap securities and suggests that institutional players are positioning themselves favorably within the current economic landscape. The index’s steady climb indicates a broader stabilization of market sentiment as participants digest recent corporate earnings and macroeconomic indicators. Liquidity remained a central pillar of the market's strength, with activity on the central market witnessing a notable improvement over previous sessions. Daily turnover surged to 409.8 million dirhams, a figure that bolstered the cumulative weekly volume to an impressive total of nearly 2 billion dirhams. This significant level of capital rotation highlights a deepening of market depth and a high level of engagement from both domestic and international investors. The concentration of trades within the central market further signifies a healthy transparent price discovery process, which is essential for maintaining the integrity of the Moroccan financial ecosystem. In terms of individual stock performance, Attijariwafa bank reaffirmed its status as the market’s primary liquidity driver. The banking giant led the session’s exchanges with a substantial turnover of 74 million dirhams, though its share price remained in a state of quasi-stagnation, closing at 760 dirhams. This lateral movement suggests a temporary equilibrium between buyers and sellers following earlier gains. In the logistics sector, Marsa Maroc experienced a marginal correction of 0.26% to close at 905 dirhams on a volume of 43 million dirhams. Conversely, the healthcare sector leader, Akdital, continued its upward trajectory, gaining 1.32% to reach 1,151 dirhams with 39 million dirhams in transaction value, reflecting ongoing confidence in the group’s aggressive expansion strategy. The most striking performance of the session was recorded by the Société Métallurgique d'Imiter (SMI), which surged by 4.94% to reach 5,824 dirhams. This rally further consolidates a remarkable year-to-date performance, with the mining firm boasting an appreciation of 42.05% since the beginning of 2026. Such exponential growth likely stems from favorable commodity pricing and strong operational outlooks, making it a standout performer for growth-oriented portfolios. However, the session was not without its downward pressures. SNEP faced a significant retreat, dropping 5.13% to 460.10 dirhams, as investors likely locked in profits or reacted to specific industrial headwinds. Similarly, TAQA Morocco registered a decline of 4.55%, ending the session at 1,890 dirhams. Despite these localized corrections in the chemical and energy sectors, the broader market remains anchored by its blue-chip heavyweights. As the exchange closes the books on February 20, 2026, the outlook remains cautiously optimistic, supported by high trading volumes and a MASI 20 that continues to challenge new resistance levels.