Tunis Stock Exchange — TUNINDEX Flat for Week as Poulina Tops Trading with TND 2.19m
The TUNINDEX slipped 0.03% this week to 15,595.53 points in a mixed market with 20 gainers and 28 losers. Poulina GP Holding led turnover at TND 2.19 million, while Brent’s 12.7% weekly drop offered Tunisia some macro relief as a net energy importer.
|6 min read
Tunisia’s equity market ended the week of April 6-10, 2026 almost unchanged, with the TUNINDEX at 15,595.53 points, down 0.03%, and the TUNINDEX20 at 6,925.59, down 0.06%. The key takeaway was not a broad-based rally or selloff, but the concentration of trading in a handful of liquid names, led by Poulina GP Holding, which posted TND 2.19 million in turnover in a market where 20 stocks rose, 28 fell and 27 were unchanged.
That near-flat finish came against a macro backdrop that was more supportive than the index performance suggests. Brent crude fell 12.7% over the week to $95.86 a barrel, a meaningful move for Tunisia as a net energy importer, while the USD/TND stood at 2.8855, down 0.07%, and the EUR/TND at 3.3832, down 0.43%. In practical terms, lower oil and a slightly firmer dinar against major currencies ease pressure, at least at the margin, on Tunisia’s energy import bill, trade balance and subsidy burden.
Key figures
- TUNINDEX: 15,595.53 points (-0.03% weekly)
- TUNINDEX20: 6,925.59 (-0.06%)
- Poulina GP Holding: TND 2,189,106.48 turnover, +1.2%
- One Tech Holding: TND 1,889,346.4 turnover, +1.6%
For anyone tracking the Tunis stock exchange today, the dominant signal was selectivity rather than direction. Market breadth, with across , shows that the slight decline in the benchmarks masked active rotation between sectors. Gains in , and sat alongside declines in , and .
The gap between price action and trading activity was equally revealing. The week’s top five turnover names were concentrated in Poulina GP Holding (TND 2.19 million), One Tech Holding (TND 1.89 million), BNA (TND 1.54 million), TELNET Holding (TND 1.10 million) and Amen Bank (TND 601,918.89). That pattern suggests investors preferred liquid counters capable of absorbing portfolio rotation during a week packed with regulatory disclosures, according to CMF filings and market notices.
Poulina leads turnover as investors gravitate to liquid domestic exposure
The main story this week is therefore not a dramatic price move, but a liquidity signal. Poulina GP Holding closed 1.2% higher at TND 24.42 on TND 2,189,106.48 in turnover, the highest on the exchange. In a market like Tunis, where depth can be limited, that is a meaningful figure: it indicates that institutional money and active traders still prefer diversified large-cap names when macro visibility remains incomplete.
That positioning makes sense. Poulina is exposed to several parts of the domestic economy — food, industry and distribution — making it a useful proxy for the broader Tunisia stock market. In a week marked by falling oil prices, the logic is twofold. First, lower Brent can reduce some operating pressure, especially in logistics and energy-linked costs. Second, it improves the country-level macro narrative, which tends to support the most liquid domestic names. The stock’s 1.2% gain was modest, but the turnover suggests the market used Poulina as a liquidity anchor rather than a speculative trade.
The second notable signal came from state-linked lender BNA, which rose 1.3% to TND 15.2 on TND 1,542,860.8 in turnover. The week’s news flow included a call for applications to appoint an independent director, published on April 3, and a BNA Assurances press release on April 7. In Tunisia, where CMF disclosures often drive the news cycle more directly than analyst research, such announcements keep attention focused on governance, subsidiaries and strategic clarity. BNA’s move was measured, but it reinforced the point that banks remain central to market positioning.
CMF-driven news flow gave shape to an otherwise flat week
The week ending April 10, 2026 was dense on the regulatory front, with 20 official announcements recorded. Among the most relevant were press releases involving SMART Tunisie on April 6, SPDIT SICAF on April 6, One Tech Holding on April 7, Office Plast on April 3, and BH Assurance on April 3, alongside a series of final financial statements from SICAVs and financial institutions. On a market like Tunis, where sell-side coverage is relatively thin, those documents matter more than they would on deeper exchanges such as Johannesburg or Casablanca.
SMART Tunisie rose 2.5% to TND 24.62, while One Tech Holding added 1.6% to TND 10.1 on TND 1.89 million in turnover. Even if One Tech is not the lead angle this week, its activity confirms that industrial and technology-linked names remain relevant when investors look for exporters or companies with stronger margin defenses. The relative stability in USD/TND and the decline in EUR/TND may also have helped temper short-term concerns over imported input costs, although the real impact depends on each company’s hedging and sourcing structure.
Leasing and finance also contributed to the week’s tone. Hannibal Lease gained 3.7%, while ATL fell 2.0% to TND 8.13. Groupe CIL published consolidated financial statements for December 31, 2025 on April 7, while CIL also released interim information for June 30, 2025. That flow underlines a key feature of the TUNINDEX index environment: understanding sector rotation on the BVMT often requires reading filings and financial statements, not just watching the benchmark.
Consumer and industrial names diverged despite oil relief
On the downside, several consumer-facing or defensive names weighed on sentiment. Délice Holding fell 1.2% to TND 17.55, SFBT lost 1.2% to TND 14.0, and Monoprix dropped 4.5% to TND 8.51. That divergence suggests the market is not rewarding domestic names indiscriminately, even with a better oil backdrop. The reason is straightforward: a 12.7% weekly drop in Brent helps the macro picture, but it does not erase pressure on household purchasing power or financing conditions that still affect domestic demand.
In industry, SOTUVER slipped 0.9% to TND 17.3, days after a report by *L’Economiste Maghrébin* on April 3 said 16.2 million shares had changed hands in favor of BA Glass B.V. While that headline does not come from the official filing list provided here, it is a reminder that ownership changes can reshape sector narratives without necessarily triggering an immediate rerating. For glass, packaging and materials names, lower energy costs are positive on paper, but investors usually want confirmation on margins and governance before moving more aggressively.
By contrast, a few names held up better. SAH gained 0.9% to TND 13.97, Sotipapier rose 0.8% to TND 2.61, and Poulina added 1.2%. That ranking shows the market still favors companies combining domestic exposure, scale and sufficient liquidity.
Outlook: filings, financing data and oil remain the key markers
This Tunisia market recap points to a nuanced conclusion for the week of April 6-10, 2026. The headline indices barely moved — -0.03% for the TUNINDEX and -0.06% for the TUNINDEX20 — but the apparent calm masked active, filing-driven rotation into the market’s most liquid names. Brent’s fall below $96 a barrel offered credible macro support for Tunisia as a net energy importer, while the EUR/TND move to 3.3832 added a modest easing factor on external costs.
Next week, the market will focus first on the continuation of regulatory and financial disclosures, especially in banking, leasing and holding companies. Traders will also track oil after a 12.7% weekly correction, because either a rebound or further decline would quickly alter the read-through for energy-sensitive sectors. Finally, the CMF’s statistics on capital and debt securities issuance as of March 31, 2026, published on April 6, should offer useful clues on financing conditions across the market.
