Metal Stocks Soar Following China's Economic Policies

Metal stocks saw significant gains as China announced new policy measures to support its economy and property market. Prominent stocks like National Aluminium Company, Tata Steel, and Hindalco Industries recorded notable rises. China's central bank's rate cuts and stimulus measures positively impacted global investor sentiment, contributing to the rally in metal stocks.

Metal stocks captured investor attention on Tuesday after China unveiled a series of policy measures aimed at bolstering its economy and a faltering property market.

Key players like National Aluminium Company saw a 6.16% increase, Tata Steel surged by 4.29%, and Hindalco Industries skyrocketed by 3.98%. Other notable gainers included NMDC with a 3.90% climb, and Vedanta with a 3.80% ascent on the BSE.

''The rate cut by China's central bank and additional stimulus efforts have bolstered global investor sentiment, leading to gains in domestic metal stocks,'' remarked Vinod Nair, Head of Research at Geojit Financial Services. Reflecting this trend, the BSE metal index rose 2.78%, reaching 33,074.84 points.

(With inputs from agencies.)