Tunis Stock Exchange — TUNINDEX Slips 0.16% for July 27-31 Week as Construction, Leasing Hold Up
The TUNINDEX fell 0.16% in the week ended July 31, 2026, even as construction and leasing stocks outperformed. ASTREE (+4.2%), Modern Leasing (+4.1%) and TAWASOL (+3.8%) led a mixed market shaped by earnings releases and CMF-driven disclosures.
|6 min read
Tunisia’s equity market ended the July 27-31, 2026 week with a modest setback, as the TUNINDEX closed at 20,038.09 points, down 0.16% on the final session, while sector rotation kept the broader picture more nuanced than the headline index suggests. Beneath that slight decline, construction materials and leasing names held their ground, even as several heavyweights paused after an exceptionally strong run in 2026.
Key figures
- TUNINDEX: 20,038.09 points (-0.16%)
- TUNINDEX20: 8,820.67 points (-0.20%)
- 22 gainers / 30 losers / 23 unchanged
- Building & Construction Materials Index: +0.88%
- Banking Index: +56.59% year-to-date
Tunis stock exchange today: consolidation after a near-49% surge in 2026
The main takeaway from the Tunis stock exchange today is not a broad selloff, but a market taking a breather at elevated levels. The TUNINDEX is still up 48.98% year-to-date, while the TUNINDEX20 has gained 47.62% since the start of the year. That leaves Tunis as one of the region’s strongest-performing exchanges in 2026, but it also raises the odds of profit-taking in names that have already rerated sharply, especially across financials.
Market breadth supports that interpretation. Out of 75 listed stocks, . In other words, weakness was present, but not disorderly. Financials still anchor the year’s rally, with the , the , and the .
Financial Services Index at 30,855.04 points, up 64.72% YTD
Insurance Index at 31,130.39 points, up 57.18%
Banking Index at 15,141.42 points, up 56.59%
This week, however, leadership shifted toward cyclical and industrial pockets of the market. The Industrials Index stood at 2,543.13 points, nearly flat on the day at -0.02%, but still up 41.23% in 2026. The Distribution Index and Consumer Services Index both remain up 40.64% YTD, despite each slipping 0.58% on the final session. That kind of sector dispersion is typical of a market moving deeper into earnings season, where stock-specific disclosures matter more than index momentum.
Construction and leasing led the week as the TUNINDEX index slipped
The core story in this Tunisia market recap is the resilience of construction-linked and specialist finance stocks even as the benchmark edged lower. The Building & Construction Materials Index rose 0.88%, helped by Carthage Cement, which gained 1.5% to 2.08 TND, and Ciments de Bizerte, up 1.3% to 0.79 TND. That performance stands out because it came after mixed sector disclosures and against a domestic backdrop that parts of the business press have described as soft.
Leasing names also outperformed. Modern Leasing posted the second-best gain on the market at +4.1% to 4.87 TND, while Attijari Leasing added 2.1% to 48.0 TND. The move fits a broader pattern in which Tunisian financial stocks continue to attract demand, but with investors becoming more selective between banks, insurers and leasing companies as valuations rise.
Why did construction and leasing hold up now? First, the Tunis market remains highly sensitive to regulated disclosures and company-level operating signals, often more so than to broad macro narratives. Second, the rise in Brent crude to $90.08 a barrel, up 1.9% on the week, is theoretically negative for Tunisia as a net energy importer because it worsens the import bill and can pressure fiscal balances through subsidies. In that environment, investors appeared to favor names where second-quarter 2026 operating trends were visible enough to offset macro concerns.
Foreign exchange also mattered at the margin. The U.S. dollar fell 0.56% against the Tunisian dinar to 2.9345 TND, slightly easing the burden of dollar-denominated imports, especially energy. But the euro rose 3.09% to 3.3759 TND, a more mixed development for Tunisian corporates: it can support export receipts into the euro area, while also raising the local-currency cost of imported equipment and inputs. For industrial and materials companies, that helps explain why the market rewarded concrete operating updates rather than purely macro-driven stories.
CMF-style disclosure flow drove trading as earnings season intensified
As is often the case in the Tunisia stock market, official disclosures shaped the week’s tone. According to the exchange calendar, 20 official announcements were released, including several second-quarter 2026 earnings statements and regulatory notices. On July 29, the market also published a notice regarding “the latest developments in trading on the Tunis Stock Exchange,” underscoring how central exchange and regulator-led communication remains on a market where liquidity can vary sharply from one stock to another.
Ordinary general meetings for EL FOULADH and City Cars, both announced on July 30, added to the corporate flow. In autos, Ennakl Automobiles released its second-quarter 2026 figures on July 24, at a time when the sector is dealing with a more selective consumer and import costs that remain sensitive to the euro/dinar exchange rate. Auto distribution therefore remains a useful gauge of both domestic demand and inventory discipline.
Winners and losers: insurers shine, ceramics remain under pressure
At the top of the leaderboard, ASTREE rose 4.2% to 84.9 TND, ahead of Modern Leasing (+4.1% to 4.87 TND) and TAWASOL GP HOLDING (+3.8% to 0.82 TND). SOTETEL gained 2.6% to 25.72 TND, while TELNET HOLDING added 1.9% to 13.25 TND. ASTREE’s move is notable because it shows the insurance segment, already up 57.18% year-to-date, is still attracting flows even as banks pause.
On the downside, weakness was more pronounced in selected mid- and small-cap industrial and consumer names:
•CIL: -4.7% to 40.0 TND
•SOTEMAIL: -4.3% to 2.21 TND
•SOMOCER: -3.2% to 0.61 TND
•MONOPRIX: -2.3% to 10.84 TND
•SANIMED: -2.3% to 0.43 TND
•ICF: -2.0% to 148.97 TND
The declines in SOTEMAIL, SOMOCER and SANIMED show that the recovery is far from uniform across materials and ceramics. The market is clearly distinguishing between companies able to demonstrate operational improvement and those still constrained by cost pressure, weak local demand or tighter balance-sheet conditions. By contrast, Land’Or, up 1.4% to 15.81 TND, showed that food names still have support, even though the Food & Beverage Index slipped 0.43% on the day while remaining up 37.3% YTD.
What to watch after July 31
The next week opens with three concrete watchpoints. First, the market will continue digesting second-quarter 2026 releases from TPR, SIMPAR, SANIMED, Ciments de Bizerte, Ennakl Automobiles and Atelier du Meuble Intérieurs, which should sharpen the sector read-across for construction, consumption and industry. Second, follow-through from Office Plast and any additional notices from the exchange and the CMF will matter, because regulatory filings remain major catalysts in Tunis. Third, macro will stay in the background but cannot be ignored: with Brent above $90, the euro up 3.09% against the dinar, and global trade frictions disrupting commodity pricing according to international reports, margin protection will remain a key filter for the TUNINDEX index as August trading begins.
