Casablanca Stocks Finish in the Green with 0.48% Gain on Futures Debut

Casablanca – Casablanca’s stock market started the week on a mixed but broadly positive note Monday, as the MASI rose 0.48% to close at 17,599.70 points, trimming its year-to-date loss to 6.61%.

The session also marked a historic first for the exchange with the effective launch of the financial derivatives market, marked by the first listing of the MASI 20 futures contract, branded “Future MASI 20.”

While the broader index advanced, the MASI 20, which tracks the largest capitalizations, slipped 0.42% to 1,311.11 points, taking its decline since the start of the year to 11.75%.

Trading remained moderate on the central market, with total volume reaching MAD 434 million ($46.36 million).

On the turnover side, CFG Bank led the market with MAD 83 million ($8.87 million) in traded value. The stock fell 1.67% to MAD 205.5 ($21.95) after touching an intraday high of MAD 209 ($22.32). It was followed closely by Attijariwafa Bank, which posted MAD 77.8 million ($8.31 million) in volume, while its share edged down 0.18% to MAD 680 ($72.63).

Mining stocks stood out among the day’s gainers. CMT posted the strongest increase of the session, jumping 9.97% to MAD 4,289 ($458.10). SMI followed with an 8.44% rise to MAD 7,700 ($822.43).

Managem also extended its rebound and hit a fresh peak at MAD 10,745 ($1,147.66), up 7.45% on the day.

By the close, the total market capitalization of the Casablanca Stock Exchange stood at MAD 996 billion ($106.38 billion).

A mixed close overall, but one that still pushed the market into positive territory as new futures trading officially entered the picture.

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The post Casablanca Stocks Finish in the Green with 0.48% Gain on Futures Debut appeared first on Morocco World News.