On November 4, 2026, the TUNINDEX closed at 18,667.78 points, down 0.03%, while the TUNINDEX20 rose 0.03% to 8,184.95 points.
Two almost flat indices, therefore, and a market capitalization of 45.938 billion dinars up 0.08%. But the stagnation in prices masks a session that was far more contrasting: among 75 listed companies, 36 declined while only 14 advanced, 12 remained unchanged. The indices held, but market breadth yielded.
A session driven by a single stock
Trading volume reached 5.28 million dinars for 373,437 shares across 1,177 transactions. Yet SFBT, alone, drew in 1.97 million dinars, about 37% of the day’s capital, far ahead of Amen Bank (689,403 dinars) and BIAT (361,878 dinars).
The day’s market moved on a handful of large names, while small-cap stocks fed the extremes: Sotemail topped the gains (4.45%), Somocer and Air Liquide Tunisia trailed with declines around 4.3%.
A breakdown by asset category offers the most instructive angle. The OPCVMs sold for 1.24 million dinars and bought for 0.83 million dinars, reducing their positions by about 405 thousand dinars. By contrast, foreign investors bought 182,038 dinars and sold 63,286 dinars, a net buying of about 119,000 dinars.
Foreigners also hold 17.74% of the capitalization. A modest absolute flow, but against the main local institutional actor.
Financial services were the sector index most impacted (down 1.34%), ahead of basic materials (0.94%). Banks, which account for 58.38% of the TUNINDEX and 46.14% of capitalization, fell 0.15%.
The TUNINDEX remains up 38.79% year-to-date, but sits roughly 13% below its July 17 high (21,552.73 points). The market is consolidating more than it is collapsing. Cumulative volumes confirm this: 3 billion dinars traded on equity in 2026, versus 1.65 billion a year earlier, i.e., 82.32% higher.
What to remember
A session with no clear direction, yet it says the essential: a market up for the year, focused on a few names, where breadth is deteriorating and where flows are changing hands. For investors, the real question is no longer the trend of the indices, but the sustainability of a rally driven by so few stocks.
