Riyadh, Feb 21, 2026, 08:59 (AST) — The market has closed.
The Tadawul All Share Index (.TASI) dropped 1.87% to 10,947.25 in the last session, with decliners swamping gainers, 253 to 14. Banks sank 2.34%, while energy eked out a 0.29% gain, according to data from the Saudi Exchange. 1
This shift hits just as investors face a lull in trading, with geopolitics taking center stage again. Gulf stocks slumped Thursday—Al Rajhi Bank dropped 2.9%, Saudi National Bank slipped 2.1%—as traders kept an eye on U.S.-Iran negotiations and a pickup in military activity, according to Reuters. “Markets … are now contending with mounting geopolitical uncertainties,” said Milad Azar, a market analyst at XTB MENA. 2
Oil prices climbed, complicating things for a market heavy with energy stocks. Brent finished 1.9% higher at $71.66 a barrel, while U.S. crude matched the 1.9% move to settle at $66.43. Reuters cited mounting concern over potential flare-ups between the U.S. and Iran. “The market will continue to rally in anticipation of something happening,” said Andrew Lipow, president of Lipow Oil Associates. Phil Flynn at Price Futures Group added, “We have a solid market with solid demand.” 3
The Saudi Exchange operates Sunday to Thursday, with trading hours from 10:00 a.m. until 3:00 p.m.; it shuts its doors for official holidays like Saudi Founding Day, according to the exchange. On its calendar, Founding Day is marked for Feb. 22, 2026, meaning the next cash session will open Monday, Feb. 23. 4
Company headlines are likely to be in the mix once markets reopen. Almarai’s board is backing a plan to buy back up to 10 million shares, aiming to hold them as treasury stock for an employee share program, with funding coming from the company’s own coffers. Shareholders still have to sign off at an extraordinary general meeting, according to the company’s disclosure. 5
The board at ASG Plastic Factory is backing a cash dividend payout of 4.58 million riyals for fiscal 2025—amounting to 0.65 riyal per share, according to the company. Timing for both eligibility and distribution will come after shareholders weigh in at the general assembly. 6
Saudi Fisheries posted a 2025 net loss of 25.35 million riyals attributable to shareholders, down from last year’s 40.99 million, the company’s filing showed. Management pointed to a pullback from wholesale and the shuttering of some retail shops. The auditor issued a material uncertainty over going concern, flagging that funding and restructuring remain critical, Saudi Fisheries said. 7
Emaar, the Economic City brought in Eng. Muhannad Al-Azzawi as its new chairman after the former chair stepped down. Shares closed 3.19% lower, the company disclosed in an exchange filing. 8
Yet pricier oil doesn’t guarantee stocks will benefit. If headlines quiet down over the weekend, crude’s risk premium can evaporate fast; a new burst of tension, though, and risk assets may take another hit—banks tend to feel it first.
Investors face a key question when markets reopen Monday: was Thursday’s selloff just a brief shakeout, or the kickoff to a bigger derisking push? Early trades will likely be steered by moves in oil-exposed giants, the banks’ trajectory, and whatever new buyback or dividend plans hit the wires.
