The Nifty Bank Index continued its record-high run for the third straight session and rose over 1 percent on Monday in line with gains in the broader stock market amid continued capital inflow from foreign investors.

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The NSE index rose as much as 1.46 percent to 29,812 points in the opening trade. At 10.40 AM, the Nifty Bank was trading 0.7 percent up at 29,585.95, while the benchmark Nifty 50 was up 0.43 percent at 11,476.10.

Among the participants on the index, Kotak Mahindra Bank saw the most gains and traded higher by 2.03 percent at Rs 1,352 per share followed by Axis Bank which is up 1.37 percent at Rs 745.20 per share on the NSE.

The biggest private lender, HDFC Bank advanced by 1.22 percent to Rs 2,280.40 per share. While IndusInd Bank rose 1.20 percent to Rs 1,723.75 along with ICICI Bank which went higher by 1.13 percent to Rs 399.75.

Since March 1, Bank Nifty rose about 10 percent to the highest level of 29,812 on the back of positive capital inflow from FIIs. In Q4FY19, the aggregate equity inflows (FII+DII) has exceeded Rs 25,000 crore which is almost equal to the total inflow of Rs 29,000 crore seen in the M9FY19.

Also, the open interest has also swelled up for banking index which witnessed the highest upmove since August. In the last week itself, the Nifty Bank saw more than 30 percent higher open interest, reported Moneycontrol.com.