Polish equity market retreated on Wednesday. The broad market measure, the WIG Index, plunged by 1.68%. Information technology sector ( 0.34%) was the sole advancer among the WIG's 11 industry groups. At the same time, the materials (-6.57%) posed the biggest decline.
The large-cap stocks lost 1.93%, as measured by the WIG30 Index. Within the index components, banking name ALIOR (WSE: ALR) led the decliners with a 8.56% drop. It was followed by copper producer KGHM (WSE: KGH), which tumbled by 7.2% after Poland's Finance Minister said that they would not scrap the copper tax next year. Other most prominent losers included chemical company GRUPA AZOTY (WSE: ATT), bank PKO BP (WSE: PKO) and gencos TAURON PE (WSE: TPE), ENERGA (WSE: ENG) and ENEA (WSE: ENA), which plummeted by 3.22%-4.92%. On the other side of the ledger, bank BZ WBK (WSE: BZW) and IT-company ASSECO POLAND (WSE: ACP) became the biggest gainers, advancing by 1.76% and 1.1% respectively.