Indices at historic highs, capitalisation leaping, collective savings in full swing: the first half of 2026 offers the Tunisian market its most striking dashboard. The question remains whether this rise acts as a motor or merely as a mirror.
It is rare for a market to achieve both the magnitude and the breadth of a rise. The TUNINDEX closed on June 30 at 19,863.75 points, a gain of 47.69% since January, just shy of the symbolic threshold of 20,000. The essential, however, lies less in the number than in its texture: for the first time in five years, all twelve listed sectors advanced in concert.
This positive breakout takes on its full significance at the regional scale. Where the Egyptian index EGX30 gains 20.70% and where the Moroccan MASI falls 3.34%, Tunis proves to be the region’s most performing market, with more than 27 points ahead of Cairo and more than 51 over Casablanca.
This reading comes from the first edition of the Review of the Financial Market Council, published in September 2026 and anchored as of June 30. The regulator consolidates the data from BVMT and Tunisie Clearing. The value of the exercise lies less in the records than in the mechanisms they reveal, and it is this framework that we retain here.
An increase that broadened its base
The first lesson is democratic. Of the 75 listed securities, 63 ended the semester higher, i.e., 84% of the index versus 65% a year earlier, while the share of declining stocks fell from 31% to 12%. The TUNINDEX20, which groups the largest capitalizations, gained nearly as much as the overall index.
Concentration remained stable, the top 10 still weighing about 65% of the capitalization despite its near doubling. This is not the victory of a few giants; it is the rising tide that has lifted the entire fleet.
Banks at the center, rotation behind the scenes
