WIG20 is one step away from the peak of the bull market. However, it was a declining session on the WSE

During Wednesday's session, WIG20 was one step away from the October peak of the bull market, but ultimately ended the day only slightly above the mark. The broad market was even worse, with clearly more falling stocks than rising ones.

It was a volatile session on the Warsaw dance floor. After a good opening, WIG20 revisited Monday's closing line and then moved up briskly, reaching 3,056.61 points. At this point, it was only 3.5 points away from equaling the October peak of the bull market. Perhaps Polish assets were helped by reports of Russia's alleged readiness to resume direct talks with Ukraine.

However, it quickly turned out that nothing would probably come of it. At the end of the session, WIG20 was again pulled to Monday's closing line, ultimately ending trading at 3,022.84 points. So only 0.03%. WIG was slightly below the line, losing 0.02% with a turnover of PLN 1.8 billion. Of this, PLN 1.4 billion went to WIG20 companies.

Among the 20 blue chips, the best performing shares were Santander (+2.2%), Żabka (1.9%) and Orlen (1.6%). Trading companies performed very poorly. The CCC price dropped by 3.7%, LPP by 3.3% and Dino by almost 3%. The WIG-Odzież industry recorded a decline of 3.3% and it was definitely the worst sector index today.

The broad market also performed brilliantly, with the number of falling stocks being almost half as high as the number of rising stocks. Despite this, the quotations of as many as 14 securities marked at least a 52-week maximum. This group included, among others: shares of Dom Development, for which DM BOŚ analysts increased the target price by almost half.

The prices of Tauron and Kęty also reached a historic peak. Energa's shares were the highest since 2015 and over the previous two sessions they increased by 21%.

Investors were not impressed by the cooperation agreement between Allegro and PKO BP, which agreed on a new payment method. PKO BP shares gained less than 1%, and Allegro's share price fell by 0.6%.

The sentiment on foreign markets was still favorable for those investing on the WSE. The German DAX and the French CAC40 ended Wednesday's session with an increase of over 1%. The Dow Jones started the day on a positive note, but the Nasdaq and S&P500 were already slightly below the mark. There are still mixed feelings on Wall Street about ridiculously high-valued companies tied to the AI ​​boom. After last week's decline, there was a strong recovery on Tuesday, but on Wednesday big tech shares were losing again. Perhaps they were harmed by the information about the sale of a large block of Nvidia shares by Japanese SoftBank.

K.K

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