Underlying Index Performance: The primary driver is the performance of the Nifty Healthcare Index, which AXISHCETF.NSE tracks. If the index constituents rise, the ETF price generally increases, and vice versa. Supply and Demand: Market forces influence the ETF's price. High demand compared to available units pushes the price up, while increased selling pressure can lower it. Net Asset Value (NAV): The ETF price should theoretically track the NAV, representing the total value of the underlying healthcare stocks held by the ETF. Deviations can occur due to market inefficiencies. Expense Ratio: While not directly influencing daily price swings, the expense ratio impacts long-term returns. Higher expenses can reduce overall investment gains compared to lower-cost alternatives. Trading Volume and Liquidity: Higher trading volume indicates more buyers and sellers, generally leading to tighter bid-ask spreads and easier price discovery. Lower liquidity can result in price volatility. Market Sentiment: General investor optimism or pessimism towards the healthcare sector or the overall stock market can affect AXISHCETF.NSE's price. Positive sentiment tends to drive prices up. Economic Factors: Macroeconomic conditions, such as interest rates, inflation, and economic growth, can influence investor risk appetite and impact the performance of healthcare stocks, thereby affecting the ETF's price.