Polish WIG30 Index Ends 1.34% Lower on Sector-Wide Losses

Poland's benchmark WIG30 index closed down 1.34% on Thursday, as broad-based selling pressure in key sectors pushed the market lower. The decline reflected wider negative sentiment, with falling stocks significantly outnumbering advancers on the Warsaw Stock Exchange.

Sector Weakness Drives Market Lower

The session's losses were primarily driven by weakness in the Basic Materials, Banking, and Information Technology sectors, according to data from the close. Market breadth was decidedly negative, with 325 stocks declining compared to 195 advancers, while 111 issues ended the day unchanged, indicating a widespread downturn.

Leading the laggards on the WIG30 were:

• Zabka Group SA (WA:ZAB), which fell 5.38% to close at 31.66.
• Dino Polska SA (WA:DNP), declining 4.63% to end at 28.86.
• MODIVO SA (WA:MDVP), which was down 4.12% to finish at 86.58.

Energy Stocks Buck the Trend

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Despite the broader market decline, energy companies posted strong gains, buoyed by a significant rally in global oil prices. PGE Polska Grupa Energetyczna SA (WA:PGE) was the top performer on the index, rising 3.92%.

Similarly, Polski Koncern Naftowy ORLEN SA (WA:PKN) added 2.62%, with its shares reaching an all-time high. Enea SA (WA:ENAE) also finished in positive territory, up 1.05%.

Currency and Commodity Backdrop

The Polish zloty weakened against major currencies during the session. The EUR/PLN pair rose 0.26% to 4.33, while the USD/PLN pair climbed 0.62% to 3.81. This move coincided with a stronger U.S. dollar, as the Dollar Index Futures rose 0.40%.

In commodities, oil prices surged, with Brent crude for September delivery jumping 7.15% to $100.80 a barrel. In contrast, August Gold Futures fell 2.47%, trading at $4,049.17 a troy ounce.