According to data cited by “Rz”, only in 2024 the WIG index increased by over 40% and the total market value of companies – both domestic and foreign listed on the WSE – increased by nearly PLN 800 billion, reaching PLN 2.28 trillion.
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Record valuations on the Warsaw Stock Exchange and the growing strength of domestic companies
Of this amount, as much as PLN 1.1 trillion goes to domestic companies, whose capitalization increased this year by approximately PLN 350 billion. Effect? The Polish market is increasingly shortening the distance to the largest European players.
The log indicates that Allegro has become the e-commerce leader in Europe in terms of capitalization, and in the world it ranks 21st in the industry. Dino also ranks high – the seventh retail chain in its sector, even ahead of the Carrefour Group. Orlen ranks 11th among European fuel companies, and PKO BP ranks 22nd in the global ranking of banks, just behind the Dutch ABN Amro.
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Cautious optimism of experts
Experts quoted by the daily remain moderately optimistic. — We have had three very good years behind us and currently there are no signs that would indicate a change in direction – said Bartłomiej Zalewski, investment director at BM Alior Bank. At the same time he stipulated that: the macroeconomic environment may soon introduce more volatility into the stock market picture.
WSE Stock Exchange
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According to Zalewski, the CIT increase for the banking sector and the expected drop in interest rates may limit the growth rate of banks' profits, which in turn may slow down the boom in the WIG20 index – the segment most strongly supported by financial institutions.
Despite this, current valuation levels do not – according to the analyst – cause concerns about excessive market overvaluation. — Current valuations are slightly above their averages over the last 20 years, which means we are still not very overvalued, especially relative to foreign markets – he emphasized.
Although the prospects for the next year remain favorable, “Rzeczpospolita” notes that the continuation of the good streak will depend on both global factors and the further condition of national leaders, who will advance to the European top for the first time in years.
