By: Heba El-Kordy

Cairo – Mubasher: Real Estate sector’s stocks are seeing upwards wave during Thursday’s trading session.

Sixth of October for Development and Investment Co (SODIC) rose today to its highest level since October 2014 to lead the Egyptian Exchange’s (EGX) transactions.

Real estate sector’s stocks saw a positive performance this week, particularly Palm Hills, Emaar Misr, and SODIC, capital markets expert Toni Kamal said.

Real estate sector index levelled up 1.83% to 1,902.77 points.

SODIC may test resistance at EGP 18 by Sunday’s session, Kamal added, pointing out that this resistance level is hard to break through.

Kamal highlighted that SODIC will face profit-taking at this level to retreat at EGP 16.

The expert noted that the stock will start creating new purchasing positions if it broke above EGP 18.

By 12:55 pm Cairo time, SODIC added 6.31% to EGP 17.35.

Translated by: Mai Ezz El-Din