TASI falls 1.4% in Ramadan 2026

Tadawul All Share Index (TASI) ended the holy month of Ramadan this year down by 1.4%, or 152 points, closing at 10,946 points compared to its opening at 11,098 points.
Data on the Saudi market’s performance during Ramadan since 2006 show varying trends between rises and declines, with a relative tendency toward positive performance in most years.
The index recorded gains in several seasons, most notably in 2014 (+6.8%), 2017 (+8.1%), and 2023 (+7.9%), along with strong performances in 2020 and 2022.
Conversely, some periods saw notable declines, including 2008 (-14.8%)and 2019 (-7.2%), in addition to modest drops in 2025 (-0.7%) and 2026 (-1.4%).
This indicates that market performance during Ramadan does not follow a fixed pattern but is influenced by economic conditions and global markets each year.
This year, the holy month coincided with the period when listed companies in the Saudi market announced their financial results for 2025, which will end on March 31.
Markets during Ramadan experienced clear pressure amid escalating tensions between the US, Israel, and Iran, pushing oil prices up about 40% since the start of strikes and Brent crude above $100 per barrel.
This is in addition to global stock fluctuations amid fears of supply disruptions through the Strait of Hormuz and rising inflationary pressures.
|
TASI Performance During Ramadan (2010–2026) |
||||
|
Year |
Open (pts) |
Close (pts) |
Change (pts) |
Change (%) |
|
2006 |
11108 |
10545 |
(563) |
(5.1%) |
|
2007 |
7788 |
7806 |
+18 |
+0.2% |
|
2008 |
8757 |
7459 |
(1298) |
(14.8%) |
|
2009 |
5723 |
5948 |
+225 |
+3.9% |
|
2010 |
6264 |
6306 |
+42 |
+0.7% |
|
2011 |
6392 |
5979 |
(413) |
(6.5%) |
|
2012 |
6628 |
7004 |
+376 |
+5.7% |
|
2013 |
7709 |
8072 |
+363 |
+4.7% |
|
2014 |
9569 |
10215 |
+646 |
+6.8% |
|
2015 |
9506 |
9338 |
(168) |
(1.8%) |
|
2016 |
6477 |
6500 |
+23 |
+0.4% |
|
2017 |
6872 |
7426 |
+554 |
+8.1% |
|
2018 |
7958 |
8270 |
+312 |
+3.9% |
|
2019 |
9179 |
8516 |
(633) |
(7.2%) |
|
2020 |
6605 |
7051 |
+446 |
+6.8% |
|
2021 |
9908 |
10323 |
+415 |
+4.2% |
|
2022 |
13090 |
13734 |
+644 |
+4.9% |
|
2023 |
10351 |
11164 |
+813 |
+7.9% |
|
2024 |
12556 |
12705 |
+149 |
+1.2% |
|
2025 |
12112 |
12025 |
(87) |
(0.7%) |
|
2026 |
11098 |
10946 |
(152) |
(1.4%) |
The index recorded the highest close during Ramadan 2026 at 11,155 points on February 18, while the lowest close was 10,476 points on March 1, the lowest in about two months, touching an intraday low of 10,194 points the same day.
On a daily basis, the biggest gain was on March 8 (+231 points), while the largest daily loss was around 233 points on March 1, coinciding with escalating geopolitical tensions and the start of military operations in the region.
In terms of liquidity, the highest trading value was SAR 7.23 billion on March 2, while the lowest was SAR 3 billion on March 15, the lowest in about a month.
|
Key Market Metrics – Ramadan 2026 |
|||
|
Metric |
Value |
Date |
Notes |
|
Highest close (pts) |
11,155 |
18 Feb |
-- |
|
Lowest close (pts) |
10,476 |
March 1 |
Lowest in ~2 months |
|
Highest level (pts) |
11,155 |
18 Feb |
-- |
|
Lowest level (pts) |
10,194 |
March 1 |
-- |
|
Largest daily gain (pts) |
+231 |
March 8 |
-- |
|
Largest daily loss (pts) |
(233) |
March 1 |
Market fell as US & Israel began operations against Iran |
|
Highest trading value (SAR bln) |
7.23 |
March 2 |
-- |
|
Lowest trading value (SAR bln) |
3 |
March 15 |
Lowest in a month |
Total trading in Ramadan 2026 reached SAR 94.5 billion, with a daily average of SAR 5.25 billion, reflecting a relative decline compared to recent years.
|
Saudi Market Trading During Ramadan Since 2006 (SAR bln) |
||
|
Year |
Monthly Trading Value |
Daily Average Trading* |
|
Ramadan 2006 |
341.90 |
18 |
|
Ramadan 2007 |
90.03 |
4.74 |
|
Ramadan 2008 |
80.20 |
4.22 |
|
Ramadan 2009 |
54.48 |
2.72 |
|
Ramadan 2010 |
32.22 |
1.69 |
|
Ramadan 2011 |
52.42 |
2.90 |
|
Ramadan 2012 |
120.80 |
6.04 |
|
Ramadan 2013 |
90.30 |
4.75 |
|
Ramadan 2014 |
132.56 |
6.63 |
|
Ramadan 2015 |
101.22 |
5.06 |
|
Ramadan 2016 |
73.55 |
3.87 |
|
Ramadan 2017 |
62.59 |
3.13 |
|
Ramadan 2018 |
61.26 |
3.22 |
|
Ramadan 2019 |
100.26 |
5.28 |
|
Ramadan 2020 |
95.13 |
4.76 |
|
Ramadan 2021 |
155.54 |
7.78 |
|
Ramadan 2022 |
184.20 |
9.21 |
|
Ramadan 2023 |
97.23 |
5.40 |
|
Ramadan 2024 |
170.68 |
8.98 |
|
Ramadan 2025 |
108.53 |
5.43 |
|
Ramadan 2026 |
94.49 |
5.25 |
Top Decliners
Saudi Fisheries led the decliners, down 29%, followed by SAICO (-24%), Cenomi Retail (-22%), and Seera (-21%). Shares of Elm, Care, Walaa Insurance, and Nayifat fell between 15% and 20%.
|
Top Decliners (SAR) |
|||
|
Company |
Open (SAR) |
Close (SAR) |
Change |
|
Saudi Fisheries |
57.10 |
40.78 |
(29%) |
|
SAICO |
11.52 |
8.74 |
(24%) |
|
Cenomi Retail |
17.86 |
13.99 |
(22%) |
|
Seera |
24.92 |
19.69 |
(21%) |
|
Elm |
677.50 |
541.00 |
(20%) |
|
Care |
157.20 |
125.90 |
(20%) |
|
Walaa Insurance |
11.50 |
9.27 |
(19%) |
|
Nayifat |
12.04 |
9.84 |
(18%) |
|
CHUBB |
20.28 |
16.65 |
(18%) |
|
Al-Jouf Cement |
5.96 |
4.91 |
(18%) |
|
Sport Clubs |
8.41 |
6.96 |
(17%) |
|
MBC |
32.42 |
26.90 |
(17%) |
|
UCA |
3.54 |
2.95 |
(17%) |
|
Nice One |
15.26 |
12.83 |
(16%) |
|
flynas |
60.55 |
50.95 |
(16%) |
|
Anaam Holding |
11.61 |
9.78 |
(16%) |
|
Al-Etihad |
7.62 |
6.44 |
(15%) |
|
AYYAN |
12.30 |
10.42 |
(15) |
|
Lajam Sports |
97.00 |
82.20 |
(15%) |
|
Saudi Darb |
2.24 |
1.91 |
(15%) |
Top Gainers
Takaful Al-Rajhi led the gainers with +35%, followed by Petro Rabigh and Chemanol (+19% each), and Retal (+14%).
|
Top Gainers (SAR) |
|||
|
Company |
Open (SAR) |
Close (SAR) |
Change |
|
Takaful Al-Rajhi |
72.70 |
98.30 |
+35% |
|
Petro Rabigh |
7.25 |
8.62 |
+19% |
|
Chemanol |
6.99 |
8.30 |
+19% |
|
Retal |
12.27 |
14.00 |
+14% |
|
Yansab |
28.60 |
32.12 |
+12% |
|
SISCO Holding |
29.00 |
32.50 |
+12% |
|
Southern Cement |
21.71 |
24.00 |
+11% |
|
Astra Industrial |
134.50 |
148.00 |
+10% |
|
First Milling |
49.16 |
54.00 |
+10% |
|
SACO |
24.14 |
26.46 |
+10% |
|
Savola |
22.60 |
24.69 |
+9% |
|
Fourth Milling |
3.69 |
3.98 |
+8% |
|
Emaar EC |
9.37 |
10.07 |
+7% |
|
Alujain |
24.46 |
26.26 |
+7% |
|
Electrical Industries |
14.39 |
15.43 |
+7% |
|
Mouwasat |
67.05 |
71.85 |
+7% |
|
Saudi Energy |
13.96 |
14.95 |
+7% |
|
Aramco |
25.44 |
27.06 |
+6% |
|
Enaya |
8.01 |
8.50 |
+6% |
|
Taiba |
34.98 |
37.08 |
+6% |
Blue Chips
Blue chips showed mixed performance. Aramco rose 6%, Riyad Bank (3%), SABIC AN (6%). Conversely, Al Rajhi Bank fell 3%, Saudi National Bank (4%), stc, acwa, and Mobily (6% each). Elm posted the largest loss among large-cap stocks, down 20%, alongside Jabal Omar (5%).
|
Blue Chips (SAR) |
|||
|
Company |
Open |
Close |
Change |
|
Aramco |
25.44 |
27.06 |
+6% |
|
Al Rajhi Bank |
104.60 |
101.20 |
(3%) |
|
SNB |
42.10 |
40.32 |
(4%) |
|
Maaden |
71.25 |
69.55 |
(2%) |
|
stc |
44.80 |
42.22 |
(6%) |
|
acwa |
180.50 |
169.80 |
(6%) |
|
Riyad Bank |
27.70 |
28.66 |
+3% |
|
Alinma Bank |
28.34 |
28.08 |
(1%) |
|
Sulaiman Al-Habib |
252.00 |
248.00 |
(2%) |
|
Mobily |
69.35 |
65.00 |
(6%) |
|
SABIC |
57.05 |
57.10 |
+0.1% |
|
SAB |
34.02 |
35.50 |
+4% |
|
Almarai |
42.46 |
42.86 |
+1% |
|
BSF |
19.30 |
19.35 |
+0.3% |
|
Bank Albilad |
26.38 |
26.40 |
+0.1% |
|
SABIC ANB |
128.00 |
135.50 |
+6% |
|
ANB |
20.99 |
20.87 |
(1%) |
|
Bahri |
30.34 |
31.66 |
+4% |
|
Elm |
677.50 |
541.00 |
(20%) |
|
Jabal Omar |
16.40 |
15.55 |
(5%) |
REITs
Most REITs recorded minor declines, led by Alistithmar REIT (4%), followed by Riyad REIT and Al-Maather REIT (3% each). Conversely, three REITs rose, led by Al Aziziyah REIT (9%), Al Rajhi REIT (2%), and SEDCO Capital REIT (1%).
|
REITs (SAR) |
|||
|
REIT |
Open (SAR) |
Close (SAR) |
Change |
|
Alistithmar REIT |
7.67 |
7.40 |
(4%) |
|
Riyad REIT |
5.11 |
4.96 |
(3%) |
|
Al Maather REIT |
9.12 |
8.88 |
(3%) |
|
Derayah REIT |
5.22 |
5.09 |
(2%) |
|
AlJazira REIT |
11.50 |
11.25 |
(2%) |
|
Musharaka REIT |
4.27 |
4.20 |
(2%) |
|
Mulkia REIT |
4.57 |
4.50 |
(2%) |
|
Alinma Retail REIT |
4.74 |
4.69 |
(1%) |
|
MEFIC REIT |
3.62 |
3.59 |
(1%) |
|
Jadwa Haramain REIT |
4.97 |
4.93 |
(1%) |
|
Bonyan REIT |
9.50 |
9.43 |
(1%) |
|
Alkhabeer REIT |
5.66 |
5.62 |
(1%) |
|
AlAhli REIT 1 |
6.55 |
6.51 |
(1%) |
|
Jadwa Saudi REIT |
11.28 |
11.22 |
(1%) |
|
Taaleem REIT |
9.88 |
9.84 |
(0.4%) |
|
Alinma Hospitality REIT |
8.02 |
8.00 |
(0.3%) |
|
SEDCO Capital REIT |
7.08 |
7.12 |
+1% |
|
Al Aziziyah REIT |
4.89 |
5.32 |
+9% |
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