Tata Steel and other metal stocks were on the rise after China announced stimulus for its struggling economy. What Happened: People’s Bank of China (PBOC) China's central bank on Tuesday said it will cut the reserve requirement ratio (RRR) for banks by 50 basis points or half a percentage point.

The Nifty Metal rose to hit a nearly two-month high on Tuesday, as risk appetite for metal stocks improved after China's central bank announced a slew of measures to boost the world's second largest economy. The market-cap of these companies rose Rs 36,168.53 crore to Rs 17.94 lakh crore as of 10:40 a.m.

Shares of NALCO surged the highest, ie, 5% to day’s high of Rs 189.85, NMDC’s shares increased by 4.5% to Rs 225.45 while those of SAIL gained 3% to Rs 133.60.

The shares of metal companies experienced a surge on September 24, with gains of up to 5%, following a series of measures announced by Chinas central bank to stimulate the country’s struggling economy.

The extended property crisis in the world’s second-largest economy negatively impacted metal demand, thus making the recent slew of measures to revive the sector a source of renewed optimism for metal stocks.