Overview of Trading Activity
According to the latest statistics released by the Moroccan Capital Market Authority (AMMC), individual investors played a pivotal role in the trading landscape during the third quarter of 2025.
In the central market's equity segment, mutual funds emerged as the leading contributors, accounting for 33.3% of the quarterly trading volume. Individual Moroccan investors closely followed, representing 30.1% of the total.
Together, these two categories comprised a substantial 63.4% of the trading volumes for the period.
Corporate entities in Morocco contributed 24.9% to the quarterly volume, while investors operating through banking networks accounted for 5.8%. Foreign corporate investors made up the remaining 5.5% of trades.
Detailed Breakdown of Transactions
A closer look at the buying and selling activities reveals the following insights:
Mutual funds, in a net buying position, executed purchases totaling 11.6 billion dirhams, against sales of 8.4 billion dirhams. Compared to the third quarter of 2024, their purchases and sales increased by 2.3 times and 2.2 times, respectively.
Individual Moroccan investors made purchases amounting to 9 billion dirhams, marking a 2.7-fold increase from Q3 2024 and a 15.7% rise from Q2 2025. Their sales reached 9.1 billion dirhams, up 2.8 times from Q3 2024 and 14.2% from the previous quarter.
Conversely, Moroccan corporate entities were net sellers, recording sales of 8.2 billion dirhams against purchases of 6.7 billion dirhams. Their buying and selling volumes also grew by 2.1 times compared to the same quarter last year.
Investors whose orders were processed through banking networks purchased 1.3 billion dirhams worth of securities while selling 2.2 billion dirhams. Their purchases increased threefold compared to Q3 2024, with sales rising by 2.2 times.
Foreign corporate investors engaged in purchases totaling 1.4 billion dirhams, nearly doubling their volume from Q3 2024. Their sales reached 1.9 billion dirhams, reflecting a 2.5-fold increase from the same quarter last year and a 4.7% increase from Q2 2025.
Market Activity and Order Volume
The activity in the central equity market was bolstered by a significant rise in the number of trading orders, which totaled 789,177 in Q3 2025. This figure represents a 2.4-fold increase compared to Q3 2024 and a 41.9% rise from Q2 2025.
The number of contracts executed reached 405,476, compared to 156,434 a year earlier, marking a 2.6-fold increase and a 46.7% rise from the previous quarter.
The majority of trading activity occurred in the central market, which accounted for 88% of the total volume, amounting to 30.1 billion dirhams. This represents a remarkable 133.6% increase from Q3 2024 and a 6.6% rise from Q2 2025.
In contrast, block trading represented 12% of the total exchanges, with a volume of 4.3 billion dirhams.