Dalil Finance — Morocco Market Dashboard

Morocco’s stock exchange — the Bourse de Casablanca, formerly the Bourse des Valeurs de Casablanca (BVC) — is one of the oldest in Africa, operating since 1929. It lists roughly 75 companies, and its main benchmark is the MASI (Moroccan All Shares Index), a free-float-weighted index covering every listed equity. The MASI20 tracks the 20 most liquid names and is rebalanced quarterly. Banking stocks alone represent around a third of total market capitalisation, which is why a single strong session for Attijariwafa Bank or BCP can move the headline index even when most other sectors are flat.

Trading runs weekdays from 09:30 to 15:30 Casablanca time (UTC+1, no daylight saving since 2018), with a pre-open fixing auction from 09:00 and a closing auction at 15:30. Liquidity concentrates in the first 30 minutes and the last hour — mid-session volumes are typically thin, which means mid-day price moves on low volume are not always meaningful. The exchange is closed on Moroccan public holidays and occasionally for religious observances (Eid al-Fitr, Eid al-Adha) that follow the Islamic calendar.

Most retail participation comes through Moroccan brokerage accounts, though the market is also accessible to foreign investors with few restrictions. Institutional holders — pension funds (CIMR, CMR), insurance companies, and OPCVM (Moroccan mutual funds) — drive the majority of daily volume. The regulator is the AMMC (Autorité Marocaine du Marché des Capitaux), which publishes all company filings and enforces disclosure rules. Dalil links directly to AMMC source filings on every stock page.

The top of the page shows the MASI index — the main benchmark for the Bourse de Casablanca. If the MASI is up, most listed stocks rose that session; if it is down, sellers dominated. The number next to it is the percentage change since the previous close. Below the MASI you will see top gainers and losers — the five stocks with the largest positive and negative moves that day, useful for spotting unusual activity.

The FX section tracks the Moroccan dirham against major currencies. EUR/MAD matters most because the dirham’s peg basket is weighted roughly 60% euro and 40% dollar. A widening EUR/MAD spread often signals that Bank Al-Maghrib has adjusted the band or that euro-zone conditions are shifting. USD/MAD moves are partly a reflection of the EUR/USD cross rate, not just domestic policy.

Gold and oil are priced in dirhams per gram and per barrel respectively, so you see the commodity price and the currency effect together. When gold rises in USD but the dirham strengthens, the MAD-denominated gold price may barely move — or vice versa. Oil matters because Morocco imports nearly all of its crude; Brent price swings feed directly into inflation, trade balance, and the fuel subsidy budget.

All prices on the dashboard are delayed 15–30 minutes for equities and forex, longer for metals. The delay badge on each card tells you the source and freshness. When data is unavailable, the card shows the last known reference value with an amber INDICATIVE chip — this means the number is stale and should not be used for trading decisions. Dalil is an information tool, not a trading terminal.