The Warsaw Stock Exchange's blue-chip WIG20 index could approach its all-time highest level set in 2007 if positive sentiment towards banks, fuelled by interest rate hike expectations, steps up, a brokerage director told the Parkiet daily on May 19.

Forecasts regarding the path of interest rates in Poland have changed, with growing expectations of rate rises improving sentiment towards the banking sector, Sobiesław Kozłowski, head of the investment advice department at Ipopema Securities, told the newspaper.

The WIBOR rate-linked futures currently point to interest rate rises by the Monetary Policy Council (RPP) by as much as 100-125bps over the course of one year.

"I don't think we'll see the kind of sharp rate rises that the futures market is currently signalling. On the other hand, economic growth will be slightly lower than previously assumed, but it will still be solid growth, among the highest in Europe. (…) The WIG20, if it receives support from the banks, has a chance of approaching its all-time high, i.e. 4,000 points," Kozłowski said.

The WIG20's record at a trading day close was recorded on October 29, 2007, at 3,940pts, while its intra-day peak on the same day was 3,940.53pts. On May 19, 2026, the index closed the day at 3,552.49pts, down by 1.6% on the day, but up by 11.57% ytd.

The banking sector’s index WIG-Banki was down by 1.82% on the day, but up by 13.65% ytd. 

Among other leaders of share price growth, the director highlighted the copper and silver producer KGHM, whose share price has been skyrocketing on the back of soaring global copper prices.

Conversely, sentiment towards consumer-focused companies has been a bit weaker recently. However, there are still arguments in favour of the fashion retailer LPP, while discount market chain Dino surprised on the upside for Q1, leading to a rebound in its share price, Kozłowski added.

"Looking at the main sectors or the companies comprising the WIG20, I am optimistic. It is difficult at the moment to find a case for a more significant sell-off. Unless, of course, global sentiment towards the equity market deteriorates. But given the upcoming mega IPOs in the US and the often better-than-expected financial results of American and Polish companies, sentiment towards equities is positive," he concluded.

In 2026, historical records have already been noted in the case of the WIG20TR (Total Return) index. The most recent record for the total return index was reported on April 17, 2026, at 3,704.61pts.