Allegro and KGHM in the spotlight
The spotlight fell on the activities of Allegro and KGHM, which raised – respectively – 513 million PLN and 391 million PLN, but KGHM shone the brightest, rising 7.30 percent in response to a 1.7 percent increase in copper prices.
From the end‑of‑session perspective, however, it is clear that the outcome was driven by external variables and the market’s reaction to the behaviour of the underlying exchanges.
The morning rise was built on a solid European response to the good Monday sessions in the US, when the middle phase was dominated by a simple correlation between WIG20 and the German DAX, which also determined the rebound in the final two hours of the session. Undoubtedly, the local variable was a proper market breath.
17 companies in WIG20 moved up
In WIG20, 17 companies rose while only 3 fell, while across the market the price of 52 percent of securities increased, 41 percent fell, and 6 percent remained unchanged. From a technical perspective, the distribution can be seen as an attempt to create a counterbalance for Monday’s session, which ended with a 1.52 percent jump in WIG20 and a dynamic departure of the chart from resistance around 3700 points.
Yesterday’s close of the support‑gap from the previous week’s opening was, in a sense, neutralised by the morning return of WIG20 above 3700 points and the index settling just 14 points or 0.4 percent below the bull peak.
The session indicates that the index does not lose contact with the resistance zone, which last week halted demand and led to a multi‑day consolidation.
Nevertheless, the daily candle drawn warns that uncertainty dominates the market regarding the further scenario, and the basic strategy becomes waiting for WIG20 to move beyond the current pause, which will allow new technical assessments.
