Warsaw stock exchange benchmark index tops 100,000 points for first time

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Poland’s benchmark WIG stock index surpassed the 100,000-point mark for the first time on Thursday, a symbolic milestone that reflects investor confidence and sustained market growth. Meanwhile, data show that Poland’s stock market has been the world’s best performing so far this year.

The WIG, the oldest index on the Warsaw Stock Exchange (GPW) and comprising all companies listed on its main market, rose 0.44% by the end of the session, enough to push it beyond the historic threshold.

The rally follows months of strong performance, with the index gaining about 26% since the start of the year, according to data from Bloomberg cited by Puls Biznesu. This places it as the world’s second-best performing index in 2024 – behind only the WIG20, the Warsaw blue-chip index, which has risen 27.6%.

The WIG20, which tracks the 20 largest and most liquid companies on the exchange, also ended Thursday up, rising 0.51%.

The office of Poland’s prime minister, Donald Tusk, celebrated the achieved on social media.

“WIG exceeded 100,000 points for the first time! The Polish stock exchange is recording record growth and is the strongest market in the world in 2025,” they posted on X. “It’s not just numbers – it’s a clear signal of the strength of our economy”

State-owned energy firm Orlen was the biggest driver of the WIG’s gains, with shares surging 44.7% so far this year.

Financial firms also boosted the rally, with banks including PKO BP, Pekao, Millennium and ING posting strong results, alongside insurer PZU. A retail chain, Dino Polska, reached an all-time high yesterday.

Momentum continued into Friday’s trading. Shortly after the open, the WIG hit a fresh peak of 100,704 points, while the WIG20 approached its highest level since August 2011. However, gains slowed later in the morning and the WIG20 briefly dipped into negative territory.

The WIG’s record high was widely seen as a reflection of Poland’s economic resilience.

“It is proof of the strength of the Polish economy, investors’ confidence and further growth potential of companies listed on the GPW,” said the CEO of the stock exchange, Tomasz Bardziłowski, who described the event as “a historic milestone”.

He noted the index launched with just five companies and today it includes more than 300. He added that the exchange was focused on attracting new companies, noting that the Polish economy requires investment, which in turn needs funding – a role that could be fulfilled by the capital market.

Mikołaj Raczyński, vice-president of the Polish Development Fund (PFR), praised the milestone as a signal of the market’s potential.

“A 60% increase in two years is proof that the Polish stock market can grow. Now it is time for faith in investing, the number of good companies, and the quality of the market to grow too. A strong capital market is an important element of investment financing in a modern economy,” he said, quoted by Puls Biznesu.

The WIG index was introduced on 16 April 1991 with a base value of 1,000 points. It includes all eligible companies from the GPW main market, following diversification rules to limit the weight of individual firms and sectors. As an income index, it factors in both share price movements and returns from dividends.

The WIG20, established in 1994, also started at 1,000 points. It is a price index, calculated solely on transaction prices, excluding dividend payments. No more than five companies from a single sector may be included.

Notes from Poland is run by a small editorial team and published by an independent, non-profit foundation that is funded through donations from our readers. We cannot do what we do without your support.

Main image credit: KNP (under CC BY-NC-ND 3.0 PL)

Alicja Ptak

Alicja Ptak is senior editor at Notes from Poland and a multimedia journalist. She previously worked for Reuters.