Stock Markets March 18, 2026

Warsaw Stocks Slip as Sector Losses Weigh on WIG30

Basic Materials, Oil & Gas and Energy drag index lower; mixed moves in individual blue-chips and commodity-linked instruments

By Nina Shah
Warsaw Stocks Slip as Sector Losses Weigh on WIG30

Poland's equity benchmark closed lower on Wednesday, with the WIG30 falling 0.66% as declines in Basic Materials, Oil & Gas and Energy sectors pressured the market. Breadth showed more decliners than advancers, while selected blue-chips produced mixed results. Commodity and currency markets moved notably, with crude and Brent oil higher and the zloty weakening against major currencies.

Key Points

  • WIG30 closed down 0.66% as losses in Basic Materials, Oil & Gas and Energy pressured the market.
  • Leading gainers were Orange Polska SA (WA:OPL), BUDIMEX SA (WA:BDXP) and Synektik (WA:SNTP); notable decliners included CD PROJEKT SA (WA:CDR), MODIVO SA (WA:MDVP) and KGHM Polska Miedz SA (WA:KGH).
  • Commodity and FX moves were notable: crude oil (May) rose to $96.92/barrel, Brent (May) to $108.31/barrel, April gold futures fell to $4,883.40/oz, and the zloty weakened versus the euro and dollar.

Poland's stock market ended the session in negative territory on Wednesday, with the benchmark WIG30 down 0.66% at the close in Warsaw. Sector-level weakness in Basic Materials, Oil & Gas and Energy contributed to the overall decline.


Top and bottom movers

Among WIG30 components, Orange Polska SA (WA:OPL) was one of the better performers, gaining 1.78% or 0.24 points to finish at 13.44. BUDIMEX SA (WA:BDXP) also rose 1.78%, adding 11.60 points to close at 663.60. Synektik (WA:SNTP) completed the trio of strongest advancers on the index, up 1.78% or 4.80 points to 274.60.

On the downside, CD PROJEKT SA (WA:CDR) led losses on the WIG30, slipping 2.77% or 6.80 points to 238.60 at the close. MODIVO SA (WA:MDVP) fell 2.37% or 2.24 points to end at 92.26, while KGHM Polska Miedz SA (WA:KGH) dropped 2.35% or 6.60 points to 273.90.


Breadth and notable intraday moves

Decliners outnumbered advancers on the Warsaw Stock Exchange by 313 to 226, with 106 issues unchanged. MODIVO SA (WA:MDVP) touched a 52-week low during the session, falling to 92.26, a drop of 2.37% or 2.24 points.


Commodities and currency moves

Crude oil for May delivery rose 1.46% or 1.39 to trade at $96.92 a barrel. Brent oil for May increased 4.73% or 4.89 to $108.31 a barrel. In precious metals, the April Gold Futures contract declined 2.49% or 124.80 to trade at $4,883.40 a troy ounce.

Foreign exchange movements showed the zloty softer versus major currencies: EUR/PLN was up 0.31% at 4.27 and USD/PLN rose 0.53% to 3.71. The US Dollar Index Futures was higher by 0.27% at 99.60.


Context and closing note

The session featured uneven performance across the WIG30, with selective gains among large-cap names offset by sectoral pressures that left the index lower at the close. Commodity price swings and a firmer dollar coincided with the market moves observed in Warsaw.

Risks

  • Commodity price volatility - movements in crude and Brent oil can affect Oil & Gas and Energy sector earnings and sentiment.
  • Currency fluctuations - a weaker zloty (EUR/PLN and USD/PLN higher) may create uncertainty for importers, exporters and firms with FX exposures.
  • Market breadth deterioration - with decliners outnumbering advancers 313 to 226, broader selling pressure could amplify sector declines, particularly in Basic Materials and energy-linked names.

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