Investors Set Their Sights on Poland’s Mid-Cap Stocks

Poland’s mid-cap stocks have become the standout performers on the domestic market. The mWIG40 index broke above 10,000 points for the first time in July, extending its record run and giving investors in its companies plenty to celebrate.

The index has gained more than 20% since the start of 2026, several percentage points ahead of the blue-chip WIG20. Including dividends, the mWIG40 Total Return index has produced a 25% return, compared with about 20% for its WIG20 equivalent.

The strongest individual performers have done considerably better. Seven of the 40 companies in the index have gained more than 50%, while Asbis and Creotech Instruments have delivered three-digit returns. Almost half of the index’s companies have outperformed the broader WIG, which has risen by about 20% this year. Overall, shares in 70% of the mid-cap companies have generated positive returns.

The contrast with smaller companies is especially clear. Only 17% of firms in the sWIG80 small-cap segment have beaten the broader market this year, and only about half have produced any gain. The largest companies have shown statistics closer to those of the mid-cap segment.

Demand for mid-cap shares has strengthened in recent months as foreign money has flowed into Poland’s stock market and local investors have become more active. International investors appear increasingly interested in second-tier companies, particularly those with larger market capitalizations and above-average trading liquidity.