Polish equity market closed lower on Tuesday. The broad market measure, the WIG Index, lost 0.22%. From a sector perspective, telecoms stocks (-3.63%) underperformed, while automobiles names (1.14%) fared the best.

The large-cap stocks' measure, the WIG30 Index, fell by 0.29%. In the index basket, telecommunication services provider ORANGE POLSKA (WSE: OPL) was hit the hardest, down 11.35%, as the company announced it ended Q4 with net loss of PLN 1.898 bln, while analysts' consensus estimate suggested loss of PLN 108.1 mln. For the full 2016 year, the company reported net loss of PNL 1.746 bln, while analyst's expected net profit of PLN 48 mln. Other major underperformers were FMCG-wholesaler EUROCASH (WSE: EUR) and two banking names MILLENNIUM (WSE: MIL) and ALIOR (WSE: ALR), tumbling by 2.54%, 2.15% and 2.08% respectively. On the other side of the ledger, railway freight transport operator PKP CARGO (WSE: PKP) and oil refiner LOTOS (WSE: LTS) recorded the biggest daily gains, surging by 2.85% and 2.41% respectively.