The final tally of Israel’s 2026 parliamentary election, still under count, shows no single bloc holding a majority in the 120‑seat Knesset, while Arab parties achieve a record number of seats as voter turnout hits its highest level since 1999. The outcomes have sparked market volatility and drawn speculation over the formation of a new government amid uncertain coalition dynamics.
According to United Press International, Prime Minister Benjamin Netanyahu’s right‑wing bloc is projected to win 53 seats, down 15 from the previous Knesset, with his party Likud expected to secure 26 seats. The opposition bloc, led by former military chief Gadi Eisenkot, is positioned with 48 seats. The Arab bloc is set for a record 19 seats, comprising 12 for the Joint List and 7 for Ra’am. UPI notes that the 77.7% turnout is the highest since 1999 and that counting of double‑envelope ballots will be finished by Thursday.
Al Jazeera reports slightly different figures: Netanyahu’s coalition is reported to have 54 seats, while the opposition holds 49 seats, with the Arab bloc obtaining 17 seats—ten for the Joint List and seven for Ra’am. The outlet cites that the final tally is expected by Friday and that official results will be published on 4 November. Both sources agree that neither bloc has reached the 61 seats required for a governing majority.
The Arab parties’ performance is highlighted as the highest seat count for Arab members of the Knesset ever, surpassing the previous record of 15 seats set in 2020. UPI notes that the 19 seats bring the Joint List close to its caps under the party‑list law, while Al Jazeera emphasizes that the 17 seats give either bloc a decisive balance of power for forming a coalition.
Gadi Eisenkot, commenting on the preliminary results, said on social media late Tuesday that the results “point to complete distrust in Netanyahu and the government of Oct. 7, of the Zionist majority and the majority of Israeli citizens,” and added, “If these are the final results, this is a victory for the statist‑Zionist majority in Israel.”
Gadi Eisenkot, social media post, 28 Oct. 2026
Netanyahu praised the support of his right‑wing base, telling supporters that his bloc holds a decisive majority among the Jewish and Zionist public and calling Likud “the largest party in Israel.” He added, “We must establish a strong, right‑wing, national government.”
Benjamin Netanyahu, speech to supporters, 28 Oct. 2026
Xinhua reports that the Tel Aviv Stock Exchange’s benchmark TA‑35 index fell 1.81% on the day after partial results were announced, while the broader TA‑125 index slid 2.46%. The TA‑90 index, tracking 90 companies outside the TA‑35, plunged 4.47%, and the TA‑Banks‑5 index, representing Israel’s five major banks, fell 4.85%. Market analyst Gad Lior explained that the sell‑off was driven by political uncertainty and concerns that a new Netanyahu‑led government might again struggle with the high cost of living and a potential war with Iran. The Israeli shekel weakened 1.62% against the U.S. dollar to 3.128 shekels per dollar.
President Isaac Herzog will consult party leaders on who they want as prime minister, and the chosen candidate will have 28 days to build a coalition, possibly extended by another 14 days. If they fail, the mandate can pass to another member of parliament; if that also fails, the Knesset will be dissolved and new elections held, with the current cabinet staying on as caretaker.
Coalition negotiations loom
With both blocs short of the 61 seats needed for a majority and no party or coalition yet willing to form an alliance with the Arab bloc, analysts warn that months of negotiations could follow. The new government will need to decide whether to include Arab parties such as the Joint List and Ra’am or to pursue a different coalition strategy. High voter turnout, especially among Palestinian citizens of Israel, has increased pressure on all parties to consider broader representation and to address the concerns that drove this unprecedented level of participation.
What remains uncertain, as the sources have already named, is whether Netanyahu’s coalition will be able to secure Arab support to reach a governing majority, whether the opposition can form a rival government, and how the final settlement will influence Israel’s political landscape and economic stability. The outcome will ultimately depend on the remaining double‑envelope ballots, which are expected to be finalized by Thursday, and the subsequent coalition negotiations that will decide the shape of the next government.
