The Tunis Stock Exchange (TSE) closed 2025 with an exceptional performance, highlighted by a historic record for its benchmark index, the Tunindex, which jumped 35.12% to reach 13,449.95 points, according to the 2025 Stock Market Activity Report published by TSE.
This surge, which saw the index cross the symbolic 13,000-point mark for the first time, is mainly attributed to positive impacts on the share prices of high-performing companies that reported strong results for 2024 or declared attractive dividends.
The Tunindex 20, representing the largest companies, followed the same trend with a 36.30% gain.
Market capitalization soars by 31%
The total market capitalization grew 31%, reaching 34.66 billion dinars compared to 26.46 billion at the end of 2024. The financial sector remains dominant, accounting for 54% of this valuation.
The market’s dynamism is also reflected in the total trading volume, which increased by 46.3% to 5.37 billion dinars. On the main exchange, the daily average trading volume rose from 7 million dinars in 2024 to 12.3 million in 2025.
Sector and individual performances
Among sector indices, Consumer Services led with a 59.32% gain, followed by Consumer Goods at 40.40%. Notable individual performances include ASSAD (+412.9%), TUNINVEST-SICAR (+359.5%), and POULINA GP HOLDING – PGH (+118.3%).
Foreign-held market capitalization, which remains strategically important, increased by 1,364 MD in 2025 to reach 6,552 MD, representing 18.9% of total market capitalization, compared to 5,188 MD (19.6%) in 2024.
For over-the-counter transactions, the value jumped 454.4% to 109 MD from 20 MD in 2024, while registered operations and declarations totaled 2,209 MD, up 17% from 1,889 MD in 2024.
Tunindex shows resilience against economic shocks
It is worth noting that 2025’s performance is part of a sustained upward trajectory for the Tunisian market, with the Tunindex posting its fifth consecutive year of growth, demonstrating resilience against economic shocks.
This five-year momentum was supported by the financial strength of listed companies, whose overall results increased 12.2% in 2024, and benefited from abundant liquidity in the banking system, which drove a reallocation of savings toward the stock market amid declining alternative investment rates.
