A Houthi missile and drone barrage on Sunday damaged Saudi Aramco’s tower in Riyadh’s King Abdullah Financial District, home to the Saudi stock exchange and the Public Investment Fund. The Tadawul All Share Index closed 0.78% lower the same day, led by banks.
MoneyTurkey Foreign Markets Desk | 9 November 2026
Key points
- Saudi Arabia’s Energy Ministry said an Aramco administrative building in Riyadh was hit by falling shrapnel after an “attempted attack” on Sunday 8 November, causing minor damage and no injuries or deaths.
- Yemen’s Houthis claimed strikes on Riyadh’s financial district, King Khalid International Airport and Aramco oil storage tanks, and a second barrage on Abqaiq.
- The Tadawul All Share Index (TASI) fell 78.50 points, or 0.78%, to 10,016.92; Aramco shares slipped only 0.31% to SR26.08 ($6.95).
What happened
Loud explosions were heard in Riyadh on Sunday morning after Saudi Civil Defense issued an early-warning alert, Reuters reported. The Saudi-led coalition said its air defences intercepted and destroyed ballistic and cruise missiles fired toward Riyadh, the Eastern Province and the southern region, along with a drone.
The Energy Ministry described the damage to the Aramco building as minor. Witnesses told AFP and Reuters they saw blown-out windows across several floors of the Aramco Tower, and BBC Verify said authenticated footage showed more extensive damage, with at least one floor appearing badly hit. The Business Times reported that Saudi authorities later said they had destroyed two missile launchers used in the attempted attacks.
How Saudi stocks took it
The Energy Ministry statement landed mid-session, according to local market commentary on the Hawamer forum. TASI closed at 10,016.92 on turnover of SR2.74 billion ($730 million), Borsatalkhaleej reported; Hawamer’s tally put that as the thinnest of the last eight sessions. Banks did most of the damage: the sector fell about 1.6%, with Al Rajhi Bank down 1.5% and Saudi National Bank down 1.3%, Dawn reported. Energy fell only 0.3%.
Breadth was close to even, with 140 stocks up and 119 down on Borsatalkhaleej’s count. That points to selling in the heavyweights rather than a broad rush for the exit. Hawamer’s commentary also noted that Monday is the first Tadawul session to trade alongside Brent since Thursday.
Why it matters
King Abdullah Financial District is the showcase of Saudi Arabia’s push to build an economy beyond oil. It houses the Public Investment Fund, the stock exchange and firms such as Goldman Sachs and Brookfield. The Business Times said the strike will do little to reassure international companies already shaken by months of regional conflict.
The attack follows a series of Houthi strikes deep inside the kingdom since the 2022 truce collapsed in July. A strike on Riyadh’s airport on 10 October killed at least 13 people, and Aramco’s headquarters suffered extensive damage in an October attack, according to Al Jazeera and Reuters.
What to watch
- Whether Saudi bank shares keep leading TASI lower this week
- Any further Houthi claims on Riyadh or Aramco sites, and the Saudi-led coalition’s response
- Statements from international firms based in King Abdullah Financial District
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For information only. Not investment advice.
Sources
- Reuters via NBC News: Saudi Aramco building in Riyadh damaged by falling debris after attempted attack
- AFP: Yemen’s Houthis claim attack on Riyadh financial district
- BBC: Aramco Tower hit in heart of Saudi capital
- Al Jazeera: Saudi Aramco building in Riyadh damaged in ‘attempted’ attack
- The Business Times: Saudi Aramco tower targeted in rare strike on Riyadh finance hub
- Borsatalkhaleej: Closing Bell: Saudi main index edges lower to close at 10,016
- Dawn: Saudi Arabia’s benchmark index falls 0.8pc
- Hawamer (Arabic): TASI Monday session preview
