Polish equity market closed lower on Tuesday. The broad market measure, the WIG index, lost 0.2%. Sector-wise, telecommunications sector (-5.61%) was the weakest, while food sector ( 2.16%) outperformed.
The large-cap stocks' measure, the WIG30 Index, declined by 0.23%. Within the WIG30 Index components, telecommunication services provider ORANGE POLSKA (WSE: OPL) fared the worst, slumping by 7.8% after the company reported a bigger-than-expected Q4 net loss and pessimistic forecast for 2016. It was followed by genco TAURON PE (WSE: TPE), which fell by 4.64% after the company announced it expects to take a PLN 4.931 bln hit from asset impairments on its 2015 net profit. Bank ING BSK (WSE: ING), coking coal producer JSW (WSE: JSW), genco PGE (WSE: PGE) and chemical producer GRUPA AZOTY (WSE: ATT) also generated solid losses, tumbling by 3%-3.56%. On the other side of the ledger, agricultural producer KERNEL (WSE: KER) and bank HANDLOWY (WSE: BHW) were the best performers, advancing 4.25% and 3.83% respectively.