The Saudi market ended the month of October to close at 6934 points, falling by 4.79%. The market value lost more than 75 billion riyals to reach 1.646 trillion riyals. So far, more than 128 companies have announced their results. More than 75 billion riyals of consolidated profits for these companies, an increase of 7.69% over the same period last year and achieved 64 companies rising profits, while only 17 companies lost and the profits of other companies fell for the same period of 2016.
In the technical roadmap for the Saudi market, our general technical outlook for the market was positive in the medium term. We mentioned that despite our expectation of a decline in the short term, we are looking at this decline as a cumulative decline that will end soon this month and then start the bullish journey. Above the level of 8500 points, has been stressed the need for a good choice for stocks with good financial fundamentals and keep away from low-profit stocks, especially the losers.
