Stocks report: Devil is in the details

But the uncertainty about the direction of further trends created some supply on stronger buyers' initiatives. The upside was that Friday closed near the upper band of the trading range.

The main factor that influenced the market was the general situation on other global stock markets and investors concentrated mostly on company news.

PGNiG hit the headlines after the energy-sector watchdog refused a hike in gas prices for company customers, which generated a sizeable sell off. Additionally, the CEO of the company decided to resign, and the stock lost over six percent on the week. Bioton was also in the news, due to the fact that the dominant investor in the company, Prokom Investments, decided to sell some of its shares. The news initiated some selling pressure, but buyers for the 11 percent stake were found quite quickly and thanks to it, the stock rebounded during Friday's session.

The weekly market breadth was positive as 141 stocks gained while 77 lost on the week, but on the other hand it was done on much weaker volume. The best performers were Skotan and Groclin, which rose 21 and 18 percent respectively.

Tomasz Jerzyk,

technical analyst DM BZ WBK SA