The day’s clearest contrast on the Tunis stock exchange today came down to one number: ICF rose 5.8% to 87.89 TND on Wednesday, 20 May 2026, even as the TUNINDEX fell 1.35% to 17,285.34 points. That outperformance mattered because it happened while the Basic Materials index dropped 2.98% to 8,272.26 points, showing that investors were not buying the sector broadly; they were buying one name.
In a session where 35 stocks declined, against 22 gainers and 18 unchanged, ICF stood out as the market’s strongest mover in an otherwise weaker tape. The broader backdrop is still constructive for 2026: the TUNINDEX index remains up 28.52% year-to-date, while the TUNINDEX20 has gained 27.75%, according to BVMT market data. But Wednesday’s trading showed that after a strong run, Tunisia’s equity market is becoming far more selective.
Key figures
- ICF: +5.8% at 87.89 TND
- TUNINDEX: -1.35% at 17,285.34
- Basic Materials index: -2.98%
- 22 gainers / 35 losers / 18 unchanged