WIG broke its historic peak again, just like mWIG40, and WIG20 improved the bull market record. However, the results of the session were not as clear as the increases in the indices during the day. The mood on the broad market was partially shaped by the MPC's decision. Once again, considerable volatility affected the mining sector, and after the devaluation of gaming due to concerns about the impact of AI on the position of the largest companies, this time there was a huge decline in the technology sector for the same reason. WIG-Informatyka fell away from levels close to the peak of the bull market.
At the close of the session, WIG20 gained 0.47%. During the day, however, the index climbed to 3,474 points, increasing by over 0.9%. and improving his 18-year record. The broad WIG index reached 128,172.96 points for the first time in history. Ultimately, however, it ended the day at a neutral level (0.08%).
The weaker WIG resulted from the attitude of medium and small companies – mWIG40 dropped by 1.17%, and sWIG80 lost 0.45%. In the morning, mWIG40 improved its record, which currently stands at 9,144.69 points. The turnover on the broad market was estimated at PLN 2.77 billion, of which PLN 2.27 billion concerned WIG20 companies.
On the core markets, the advantage of growth was in Europe (Paris, London, Madrid, Milan, Amsterdam), where the increases even exceeded 1 percent, but the DAX was below the line, where the heaviest companies such as Deutsche Bank, Rheinmetall and, above all, Siemens and Siemens Energy AG saw a decline. On Wall Street, over 1 percent Nasdaq lost by 0.3%. the S&P500 fell.
Will AI wipe out another industry?
What was happening to technology companies in the US was the result of concerns about the future of the technology sector, which were already visible during Tuesday's session. The sell-off was sparked by Anthropic's new automation tool. A plug-in for their Claude Cowork, according to analysts, can revolutionize the software industry around the world.
“Claude Cowork, a more accessible version of Claude Code. Claude Code is an agent tool running in a terminal, while Cowork is more “no-code” and lowers the entry barrier. From the market perspective, this is important because the transition from tools for engineers to tools for business users usually means a potentially larger scale of adoption,” DM XTB analysts explain.
Investors have begun to drastically revise valuations, fearing that traditional B2B software development and services will lose value in a world of lightning-fast artificial intelligence. Software Industry Sentiment Is 'Worst Ever', Jefferies Note Says
“The new plug-in is intended to support typical legal tasks, such as document review, risk identification, initial NDA selection and compliance monitoring. This is a set of functions that hits the core of many legal software products, i.e. tools embedded in the everyday workflow of legal departments, law firms and compliance teams,” add DM XTB analysts.
However, industry experts and experts cool down emotions by reminding that technological change rarely affects everyone equally. Although for some companies AI means margin erosion, for others it may become a tool supporting the creation of new value. However, fears that the development of AI will “turn upside down” the foundations of the IT, business services and media industries have spread widely across markets.
The symbol of this decline on the WSE was Asseco Poland, whose price lost 12.73%, recording the worst session since 2007. The sale did not spare other players in the Polish IT industry. DataWalk's price increased by 9.71 percent, Vercom by 7.80 percent and cyberFolks by 3.13 percent. WIG-Informatyka has fallen dynamically (-8.86%) from levels close to all-time records and the lack of a quick rebound may suggest a deeper correction, the development of which may depend on news from the AI industry.
Orlen and Dino at the forefront of WIG20
Moving on to WIG20, the main driving force behind the WIG20 index on Wednesday was Orlen (4.17%). Investors ignored the data on the decline in the model refining margin in January (to USD 8.8 from USD 12.6 in December).
Dino Polska's share price did even better (4.79%). The company was helped by an increased recommendation from Citi analysts to “buy” with a target price of PLN 44. The price rose despite reports of GIP inspections in chain stores related to employee complaints about low working temperatures.
Banks after the Monetary Policy Council's decision
The mood in the financial sector was volatile. Even though Santander Bank Polska boasted a net profit of 14%. higher than the consensus, the bank's share price fell by 0.13%. The Monetary Policy Council's decision to keep interest rates at 4%. caused most banks to end the day higher than their quotations during the session. The WIG-Banki index ended the day only 0.07 percent lower, but it was possible to find bank shares that were gaining, such as Pekao (0.6 percent), ING (0.36 percent), Millennium (0.22 percent).
Although the market did not expect a cut in February, the target rate level is expected to be lower in 2026. Banks, according to the consensus results for 2026 analyzed by Bankier.pl, are expected to experience the greatest erosion of results, hence the sector's strong attitude may be surprising. However, on the other hand, investors can count on stimulation of lending, which could balance the loss of interest margin.
Relative peace at KGHM
After a series of sessions of extreme volatility, KGHM ended the day with a decline of 1.79%, which in the context of recent days can be considered a moment of calming down. The copper giant was helped by stabilizing metal prices, although analysts warn that the market is already heavily overbought and susceptible to correction.
In the mid-cap segment, JSW was once again under pressure, losing 2.3%. In the background there are negotiations with the company's employees regarding the reduction of employee benefits in order to improve the company's financial liquidity.
