Wednesday's session finally ended with a bull. It was probably a reaction to yesterday's declines. One company recorded excellent results for the second day in a row. CD Projekt also regained strength.
GPW rose today like on a roll
On GPW we saw a strong bull offensive today. Which companies performed best and which worst?
Growth continued with Pure Biologics (+40.7%), which already recorded excellent results yesterday. The worst performer was Enel-Med (-7.7%).
After yesterday's declines, bulls also went on the counterattack on the CD Projekt chart, which rose by 2% all session. Further gains may be driven by news about the company's future game releases (“Wiedźmin 4”, “Cyberpunk 2077 2”). Today the share price returned above 240 PLN.
The WIG index ended the session at 121 416.59 pts, which means a jump of 2.14%.
Chart. WIG index price
Source: TradingView
WIG20 “rose” today to 3 319.21 pts (increase 2.4%).
Chart. WIG20 index price
Source: TradingView
mWIG40 0 17 settled at 8 312.56 pts, which means an increase of 1.44%.
Chart. mWIG40 index price
source: TradingView
sWIG80 jumped to 29 533.25 pts. The index gained 1.35%.
Chart. sWIG80 index price
Source: TradingView
See also: WIG delivered emotions like a thriller. Donald Trump saved the Polish exchange
Session at GPW from an analyst's view
Yesterday's session ended with declines.
“Tuesday's session on the Warsaw market ended with declines (...). The focus was on the base exchanges, which were looking towards the oil market. The oil rebound after yesterday's dip raised questions about hopes that the conflict limiting supply of energy resources from the Persian Gulf would quickly end,” reported yesterday Adam Stańczak, analyst and commentator DM BOŚ.
How did experts view today's session? They pointed to gains from the start.
“The first trades in the cash market translate into a 1.3% rise in WIG20. As expected, the index’s front runner is KGHM, which accounts for a 3.2% increase on yesterday’s metal market rebound. On the other side is Orlen, overvalued alone and losing 1.6%. Two companies captured more than half of the turnover at the opening in WIG20,” described the morning situation by analyst DM BOŚ.
“Weak banks yesterday offset Tuesday’s decline and WIG-Banks rises 1.8%. Overall, the market’s breathing is clearly positive. Technically, looking at the WIG20 movement around 3280 pts the index is at the level played in the maximum Monday reaction to signals of possible end of war actions in the Middle East, but the increase does not bring new content,” added.
What happened an hour after the session started? Gains continued.
“WIG20 finished the first hour of the session around 3280 pts. The index steadily rises by the observed 1.4% in the morning. Nevertheless, the first hour’s balance was a move to around 3300 pts, where supply countered demand. The result is the support of the index’s suspension at levels reached after Monday’s jump at night. In practice, the market consolidates in anticipation of a new impulse, maintaining sensitivity to the environment. It should be assumed that in subsequent hours correlation will be the element that determines the session’s outcome,” continued the expert BOŚ.
Ultimately, the whole day was marked by gains.
Read also: GPW again delivered emotions. The session finale was a big surprise
See also: Red Tuesday at GPW! Investors flee with capital. The most important indices are falling
