The Casablanca Stock Exchange ended the Monday, September 28, 2026 session in the red: the MASI lost 0.95% to close at 17,648.90 points, finishing at the day's low after an early rebound attempt that failed to hold. Another close in what has been a particularly painful September for the Casablanca bourse.
The session in five numbers
Casablanca Stock Exchange, close of Monday, September 28, 2026
The session's indices
| Index | Close | Session | Year-to-date |
|---|---|---|---|
| MASI | 17,648.90 | -0.95% | -6.35% |
| MASI.20 | 1,278.67 | -0.71% | -13.93% |
| MASI Mid&Small | 1,718.27 | -1.05% | -6.69% |
| MASI ESG | 1,305.82 | -1.16% | +4.34% |
Two readings emerge from this table. First, the correction is concentrated in large caps: the MASI.20, which holds the market's heaviest stocks, is down nearly 14% since January — twice as much as the broad market, with Mid&Small names holding up better than blue chips. Second, the MASI ESG is holding its ground: at +4.34% year-to-date, it is the only index in the family still in positive territory, confirming the lasting appeal of sustainability-labelled stocks for institutional investors.
MAD 647 million traded, led by the heavyweights
It was a liquid session: 646.8 million dirhams (MDH) changed hands, entirely on the central order book. Three stocks dominated the tape:
- Attijariwafa bank: MAD 286m traded, price down 0.57%;
- Marsa Maroc: MAD 197m, down 1.23%;
- BCP: MAD 54m, one of the few leaders to close higher (+1.13%).
The exchange's market capitalization stands at roughly 1,037.8 billion dirhams.
Disty Technologies leads gainers after record results
The session's prize goes to Disty Technologies, up +4.35% at 360 dirhams, lifted by record first-half 2026 results — the home appliance and electronics distribution chain keeps benefiting from resilient domestic demand and modernized retail networks.
| Stock | Price (MAD) | Session |
|---|---|---|
| Disty Technologies | 360.00 | +4.35% |
| SNP | 309.90 | +3.30% |
| NKL | 48.50 | +1.78% |
| DWY | 750.10 | +1.71% |
| CSR | 180.10 | +1.46% |
At the other end, most of the market slipped into the red: 34 stocks closed lower, against 18 up and 10 unchanged — clearly deteriorated market breadth, a sign that selling pressure is not confined to a handful of names.
| Stock | Price (MAD) | Session |
|---|---|---|
| OUL | 1,091.00 | -5.95% |
| SBM | 2,000.00 | -4.58% |
| SMI | 6,300.00 | -3.82% |
| HPS | 615.00 | -3.61% |
| FBR | 353.00 | -3.29% |
Mining stocks under pressure
The mining compartment suffered: Managem fell 2.47% to 1,560 dirhams and Société métallurgique d'Imiter (SMI) lost 3.82% to 6,300 dirhams, while Compagnie minière de Touissit (CMT) limited the damage with a 0.81% gain to 4,350 dirhams. The pullback echoes a global context of caution on metals, as investors weigh physical demand against the level of US interest rates.
MASI.20 futures
The derivatives strip suggests a market looking for a floor into year-end: the September 2026 contract finished at 1,277.80 points (-0.90%), but the next maturities cluster slightly higher — December 2026 at 1,284.20 points (+0.27%), March 2027 at 1,281.70 points (+0.84%) and June 2027 at 1,279.70 points (-0.76%). Positioning anticipates neither a collapse nor a strong rebound: a consolidation status quo.
A September to forget
The close caps a brutal month: after a promising start to 2026, the MASI had already given up 2.1% in July, then suffered the worst week in its recent history from September 14 to 18 with -5.49% in five sessions. The late-September release of broadly positive half-year earnings has not yet turned the tide, in an international context marked by expensive oil and volatile world markets.
For the retail investor. A close at the day's low with 34 stocks down calls for patience: listed companies' fundamentals (solid half-year results) and the resilience of the MASI ESG contrast with the market's mood. End-of-quarter corrections are also where medium-term opportunities are built — provided you do not overweight the most sold-off names without examining their outlook.
Main sources: Boursenews (September 28, 2026 closing quotes), Hespress and official data from the Casablanca Stock Exchange.
Yassine follows the Casablanca Stock Exchange, Bank Al-Maghrib decisions and Morocco's macroeconomic indicators. He translates market moves into clear, practical takeaways for Moroccan investors and savers.
