Polish equity market plunged on Wednesday. The broad market measure, the WIG Index, declined by 0.94%. Sector-wise, utilities names (-2.15%) were the worst-performing group, while telecommunication sector stocks (+0.27%) outpaced.
The large-cap stocks' measure, the WIG30 Index, fell by 1.24%. A majority of the index components recorded losses. FMCG-wholesaler EUROCASH (WSE: EUR) topped the decliners' list, dropping by 3.91% on analyst downgrade. It was followed by two banking sector stocks MILLENNIUM (WSE: MIL) and ALIOR (WSE: ALR) and two utilities names ENERGA (WSE: ENG) and PGE (WSE: PGE), slumping between 2.84% and 3.66%. At the same time, the handful advancers included railway freight transport operator PKP CARGO (WSE: PKP), agricultural producer KERNEL (WSE: KER), videogame developer CD PROJEKT (WSE: CDR) and telecommunication services provider ORANGE POLSKA (WSE: OPL), gaining between 0.19% and 1.06%.