The Saudi market achieved its best monthly performance in 4 years during November with a gain of 10%

​Saudi stocks achieved the best monthly performance in four years in November, to close at 8,747 points, gaining 839 points, or 10.6 percent. The market opened the month at 7907 points, and achieved the lowest point at 7,842 points, losing 0.8 percent, while the highest was at 8,747 points. The MT30 index, which measures the performance of the blue-chips, rose 102 points by 9.6 percent, to close at 1164 points. The best rise since November 2016 comes despite the decline in the profits of companies whose results were completed around the middle of the month, as their profits fell by 37 percent to reach 65 billion riyals. And 88 companies achieved an increase in profits, while 54 companies recorded losses, and the rest decreased their profits. The rise came with speculative tendency and strong performance in medium and small companies, which outperformed the leaders, and five stocks doubled their market value during the month, and 125 companies performed better than the general index. The basic factors do not seem capable of achieving stability in the market during the coming period, due to the high rate of profitability, the decline in returns, and the market value of the market compared to the net assets of the listed companies.