Insurer ASS MAGHREBIA single-handedly dragged the TUNINDEX to 15,432.03 points on Wednesday, surging 5.8% to TND 70.000 while the broader index eked out a 0.28% gain in a fractured market where 30 of 75 stocks remained frozen, signaling persistent caution despite Brent crude retreating to $102.8/bbl (-0.6%), easing pressure on Tunisia's energy import bill.
The TUNINDEX20, tracking the most liquid names, advanced 0.31% to settle at 6,857.83 points, according to official data from the Tunis Stock Exchange (BVMT). Market breadth painted a mixed picture: 27 gainers against 18 decliners, reflecting selective investor participation. This paralysis affecting 40% of listed lines indicates a wait-and-see approach ahead of 2025 annual results and clarity on structural reform programs. The Tunisian dinar stabilized against the dollar at TND 2.9165/USD (-0.09%) but weakened against the euro to TND 3.3568/EUR (-0.53%), potentially eroding competitiveness for exporters to the eurozone, Tunisia's primary trading partner.
The session was dominated by ASS MAGHREBIA's explosion, which benefited from technical revaluation after weeks of consolidation, according to traders cited by Medias24. This performance comes as Tunisia's insurance sector capitalizes on rising interest rates to rebuild technical reserves. Meanwhile, the banking compartment displayed a striking divergence between public and private institutions: Banque Nationale Agricole (BNA) climbed 2.2% to TND 15.440, supported by its rural anchoring and guaranteed agricultural financing, while Société Tunisienne de Banque (STB) dropped 2.1% to TND 4.100, penalized by persistent concerns over portfolio quality. STB's non-performing loans exceed 18% of assets according to the latest Central Bank of Tunisia (BCT) data, explaining the performance gap with BNA.
Simultaneously, the filing of the FCPR RESTART FUND prospectus with the Conseil du Marché Financier (CMF), announced Wednesday, signals momentum in alternative market capitalization. This real estate investment fund could inject liquidity into the secondary market for commercial assets. At the same time, the BVMT launched a call for applications to appoint two independent directors, marking structural progress in the market institution's corporate governance.
The real estate sector benefited from the uptick with LAND OR gaining 2.4% to TND 15.960, capitalizing on still-accommodative interest rates despite inflationary pressures. Investment and credit company ICF advanced 2.4% to TND 79.950, completing the top trio with ASS MAGHREBIA and LAND OR, forming a trending financial-real estate cluster. Construction materials followed with CIMENTS DE BIZERTE rising 2.1% to TND 0.480, a level that remains extremely low, symptomatic of the construction crisis that saw national cement production drop 12% in 2025 according to Ministry of Industry statistics.