Tunis Stock Exchange — TUNINDEX Gains 0.47% for May 4-8 Week as Financials Outrun Materials
The TUNINDEX rose 0.47% in the May 4-8, 2026 week, led by financial services (+1.48%) and food stocks (+1.22%). Market breadth stayed constructive at 31 gainers versus 20 losers, while CMF filings drove stock-specific moves.
|7 min read
Tunisia’s equity market ended the May 4-8, 2026 week with a modest but telling advance, as the TUNINDEX closed at 16,526.74 points, up 0.47%, while the TUNINDEX20 added 0.48% to 7,316.13 points. The key takeaway was not the size of the move but its composition: financials, consumer-facing names and food stocks led the market higher, while basic materials fell 0.81%, underscoring a selective rally rather than a broad-based surge.
That matters because Tunisia remains highly exposed to two global variables: energy and foreign exchange. Brent crude rose 1.5% on the day to $101.55 a barrel, yet it was still down 11.3% on the week. For a net energy importer, that weekly drop potentially eases pressure on the trade balance, subsidy costs and broader fiscal expectations. At the same time, the U.S. dollar stood at 2.8635 TND, down 0.16%, while the euro fell 1.12% to 3.371 TND, moves that can help importers and companies with hard-currency input costs.
Key figures
- TUNINDEX: 16,526.74 (+0.47%)
- TUNINDEX20: 7,316.13 (+0.48%)
- Financial Services Index: +1.48%
- Food and Beverage Index: +1.22%
- 31 gainers, 20 losers, 24 unchanged
Market context: a constructive but selective Tunisia market recap
For anyone tracking the Tunis stock exchange today, the latest week reinforced a pattern already visible in 2026: performance is increasingly driven by sector rotation rather than a uniform market move. Breadth remained constructive, with 31 stocks rising, against 20 decliners and 24 unchanged out of 75 listed names. That is not euphoric participation, but it does show the index move was supported by more than a handful of heavyweights.
Sector leadership was especially revealing. The Financial Services Index posted the strongest daily move in the reference data, up 1.48%, followed by the Food and Beverage Index at 1.22%, the Distribution Index at 0.95%, and the Consumer Services Index also at 0.95%. On the other side, the Basic Materials Index slipped 0.81% and the Insurance Index lost 0.24%. That divergence points to a market favoring businesses with clearer cash-flow visibility and better margin resilience, while more cyclical segments remain exposed to input-cost volatility, industrial demand and valuation resets.
The year-to-date picture strengthens that reading. Since January 1, the TUNINDEX index has gained 22.88% and the TUNINDEX20 22.44%, with even stronger advances in distribution and consumer services, both up 31.1%, as well as industries at 29.23% and food and beverages at 28.69%. In other words, this week’s Tunisia market recap fits into a strong 2026 trend, but one that is becoming more discriminating.
Financials lead: investors reward visibility over size
The main story of the week on the Tunisia stock market was the outperformance of financials, in a segment where CMF-driven disclosures continue to shape flows. Among the top gainers, Tunisie Leasing rose 4.7% to 38.65 TND, Best Lease climbed 4.2% to 2.50 TND, and Modern Leasing added 2.0% to 3.98 TND. ATB advanced 2.2% to 3.72 TND.
Why did buyers favor financial services even as some banks lagged? Because the market is increasingly differentiating between business models. The Banking Index rose only 0.35% to 11,887.12 points, with STB down 0.4% to 4.75 TND and BNA down 0.5% to 16.20 TND, while the broader Financial Services Index outperformed at +1.48%. That gap suggests investors are leaning toward leasing and non-bank financial names, which are often seen as more nimble in a still-demanding credit environment. Official filings this week, including statements from Amen Bank and Best Lease according to CMF announcements, kept the focus on balance-sheet quality, governance and payout capacity.
Macro also helps explain the preference. An 11.3% weekly drop in Brent can improve domestic liquidity expectations by easing Tunisia’s energy import burden, which is supportive for local financing players. Likewise, the euro’s decline to 3.371 TND may reduce some imported cost pressure. That does not rewrite fundamentals overnight, but it improves short-term visibility for sectors tied to the domestic cycle.
Consumer and food names regain traction
The second engine of the week was consumption. SFBT gained 2.4% to 14.80 TND, helping lift the Food and Beverage Index by 1.22% to 18,099.48 points. The Consumer Goods Index rose 0.98% to 13,788.43 points, while the Distribution Index and Consumer Services Index each added 0.95%, to 10,294.81 and 6,534.33 points respectively.
That rotation into consumption is significant. With global markets still unsettled and headlines oscillating between a bearish 2026 oil outlook and the risk of a Middle East-driven energy spike, Tunis investors appear to be favoring companies that can pass through part of their costs or rely on relatively resilient domestic demand. That also helps explain the strength in some retail-linked names, even if Monoprix, up 4.4% at 10.63 TND, cannot be the central narrative this week.
Corporate news added support. According to Business News, SAH-Lilas improved its results and proposed a dividend of 0.4 TND per share, consistent with the company statement released on May 7. In a market where dividend yield remains an important filter, that type of announcement reinforces the appeal of staple consumer names, especially after the Household and Personal Care Index remained one of the few laggards year-to-date, down 2.06%.
CMF filings move prices in a low-coverage market
The week also highlighted the central role of regulation and disclosure in Tunis. On May 4, the CMF announced stronger market transparency through publication on its website of financial statements and indicators for brokerage firms. In a market with limited analyst coverage, that matters: the more accessible the data, the lower the opacity premium can become, which usually benefits the best-governed issuers first.
Several filings drove stock-specific moves. Euro-Cycles published its 2025 standalone and consolidated financial statements on May 7, yet the stock fell 0.8% to 11.60 TND, suggesting either expectations were higher or investors were taking profits after previous volatility. TPR released its 2025 financial statements on May 5 and dropped 1.4% to 13.00 TND. Ennakl Automobiles also issued a statement on May 7, in an auto segment still sensitive to financing costs, inventory management and exchange-rate trends.
Other announcements centered on governance, an often underappreciated driver in the Tunis stock exchange today narrative. SANIMED launched a call for applications to appoint a board member representing minority shareholders on May 6, while SIMPAR opened applications for two independent directors. SANIMED rose 3.6% to 0.58 TND, showing that even fragile stories can react positively when governance improves. For broader context, readers can revisit Bourse de Tunis — STA bondit de 6%, la rotation sectorielle masque un marché à deux vitesses, which already described this two-speed market structure.
Weak pockets: insurance and materials lag
Not everything worked this week. The Insurance Index slipped 0.24% to 23,000.93 points, weighed down by Tunis Re, down 0.4% to 12.84 TND, and by a sharper 4.5% drop in Astrée to 64.62 TND, even if that move should not be overread in isolation. The sector is still up 16.13% year-to-date, which points more to rotation than to a fundamental reversal.
Basic materials were weaker, with the index at 7,422.0 points, down 0.81%, despite a still-positive 9.24% gain since the start of the year. The decline came as global commodity markets remained volatile, with metals and crude both seeing sharp swings during the week, according to international headlines. For Tunisian industrial names, that volatility clouds visibility on production costs and export demand, especially for companies exposed to external markets.
Outlook: filings, governance and oil remain the key watchpoints
For the coming week, the market’s main catalysts are likely to remain regulatory and financial disclosures, which continue to dominate price discovery in Tunis. Traders will also assess the implications of recent announcements from SAH, Euro-Cycles, Ennakl, TPR and leasing companies, as well as any further CMF communication on transparency and governance.
On the macro side, two variables remain central: Brent, still above $100 despite its 11.3% weekly drop, and FX, with USD/TND at 2.8635 and EUR/TND at 3.371. For a net energy importer, any further easing in oil would be relatively supportive for margins and external balances; by contrast, a renewed energy shock would quickly feed into costs, public finances and, in turn, the way the market reads the TUNINDEX index over the next few sessions.
Tunis Stock Exchange — STA Jumps 6% as Sector Rotation Masks a Two-Speed Market
STA posted the day’s top gain, rising 6.0% to 69.53 TND, while the TUNINDEX added just 0.20% on May 7, 2026. The session highlighted strong financials versus weaker basic materials, with lower Brent prices and selective flows shaping trading.
