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Saudi Market Faces Mid and Small-Cap Sell-Off
The Saudi stock market experienced a notable decline in the shares of mid and small-cap companies by the end of Tuesday's session, particularly in the basic materials and services sectors. The stock of Al-Jazeera National Gypsum Company (Jepesco) recorded the largest drop, decreasing by 3.57% to close at 12.7 riyals, with 0.38 million shares traded valued at 4.75 million riyals—without any significant disclosures supporting this decline. Similarly, shares of Al-Fakhariya declined by 2.78%, closing at 19.94 riyals, and Arab Refineries' stock dropped by 2.60% to 56.3 riyals. Shares in the transportation, ground services, investment funds, and sports sectors also retreated, with evident selling pressures affecting the overall market performance amid high trading volumes and targeted selling on many stocks.
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