Polish equity market closed flat on Monday. The broad market benchmark, the WIG Index, inched down 0.06%. Sector-wise, materials (-5.06%) fared the worst, while chemicals ( 2.88%) outperformed.
The large-cap stocks' measure, the WIG30 Index, fell by 0.13%. Within the WIG30 Index components, Ukrainian agri name KERNEL (WSE: KER) was hit the hardest, tumbling by 9.14% on the back of the news that Ukraine's Finance Ministry proposed in a new tax code to cancel the special regime for value added tax for agricultural producers and transfer all farms with an annual income of UAH 2 mln to the general taxation system. Other biggest laggards included copper producer KGHM (WSE: KGH), coal miner BOGDANKA (WSE: LWB) and two gencos ENERGA (WSE: ENG) and PGE (WSE: PGE), plunging by 3.45%-5.34%. On the other side of the ledger, oil and gas company PGNIG (WSE: PGN) and chemical producer GRUPA AZOTY (WSE: ATT) recorded the strongest daily performance, gaining 5.17% and 4.84% respectively. They were followed by banking sector names ING BSK (WSE: ING) and MBANK (WSE: MBK), advancing by 3.29% and 3.07% respectively.