Underlying Index Performance: The ICICINXT50 ETF mirrors the Nifty Next 50 index. Its price heavily depends on the performance of the 50 stocks constituting the Nifty Next 50.

Supply and Demand: Basic economic principles apply. Higher demand increases the ETF's price, while increased supply puts downward pressure.

NAV: The Net Asset Value (NAV) per unit is a crucial factor. The ETF price usually trades close to its NAV, but deviations can occur.

Expense Ratio: The fund's expense ratio, covering management and operational costs, indirectly impacts returns and, consequently, the price.

Tracking Error: This reflects how closely the ETF follows its benchmark index. Lower tracking error implies more accurate replication and price alignment.

Market Sentiment: Overall market optimism or pessimism can influence investor behavior and affect ETF prices, irrespective of fundamentals.

Global Factors: Global economic events, political stability, and international market trends can have spillover effects on the Indian stock market and the ETF.

Liquidity: Higher trading volume and liquidity generally lead to more efficient price discovery and narrower bid-ask spreads.

Dividend Yield of Constituent Stocks: The dividend payouts by the companies within the Nifty Next 50 influence the ETF's attractiveness.

Currency Fluctuations: Currency fluctuations may have influence on the ETF price.