Tunis — Trading on the Tunis Stock Exchange resumed on Wednesday under normal conditions following a one-hour suspension, after the mechanism provided for in the Trading Floor Regulations had been applied, said Sonia Ben Frej, Chairwoman of the Tunis Stock Exchange Board and Managing Director of stockbroker BH Invest, told TAP on Wednesday.
The TUNINDEX closed Wednesday's session up 1.3%, with a trading volume exceeding TND 30 million.
Ben Frej recalled that during the July 28 and 29 trading sessions, each of which saw the TUNINDEX fall by more than 3%, the Tunis Stock Exchange activated, on two occasions, the trade halt mechanism, commonly known as the "circuit breaker," in accordance with the provisions of Article 3.7 of the Trading Floor Regulations.
"This measure is not an exceptional one. It is a recognised mechanism for managing market risk, implemented by the majority of stock exchanges worldwide, in particular to ensure investor protection. It aims to ensure the smooth functioning of the market during significant downward movements, by giving investors time to reassess their decisions and to limit reactions that could exacerbate market volatility," she explained.
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Article 3.7 of the Trading Floor Regulations provides for two levels of intervention. The first is triggered when the TUNINDEX falls by 3%, resulting in a one-hour trading suspension, during which investors may, in particular, cancel their orders and reconsider their decisions in the light of the available information. The second level is triggered when the fall reaches 5%, in which case trading is suspended for the remainder of the day.
"It is also important to put recent market movements into context. Prior to this correction, the TUNINDEX had recorded an exceptional performance, posting a 60.24% rise year-to-date up to July 17, having already gained 35% in 2025. This trend is part of a bullish momentum that has continued for six consecutive years, illustrating the strength and dynamism of the Tunisian financial market," Ben Frej indicated.
In this respect, the correction and profit-taking that began on July 20- the date on which the index recorded its first decline of 1.09% - constitute a natural and recurring phenomenon on the financial markets. The corrections in no way call into question the underlying market trend or the fundamentals of listed companies, the vast majority of which reported solid results in their financial statements for the 2025 financial year. This trend is, moreover, confirmed by the indicators published for the first half of 2026, she said.
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The analyses of numerous market professionals and experts also point to this same interpretation, describing this movement as a technical correction - a healthy and largely anticipated one - occurring following a prolonged upward cycle.
The Tunis Stock Exchange reaffirms its commitment to ensuring the smooth running of trading, to safeguarding the security, transparency and integrity of the market, whilst maintaining close communication with all stakeholders and the relevant authorities. It remains fully committed to strengthening investor confidence and consolidating the robustness of the regulatory and operational framework of the Tunisian financial market, Ben Frej concluded.
