Sensex Performance: The underlying index, SENSEX, performance directly impacts the ETF's price. Positive Sensex movements usually drive the ETF's price higher.

Supply and Demand: Market dynamics dictate ETF prices. High demand paired with limited supply pushes the price up, while excess supply leads to price decreases.

Expense Ratio: While not directly affecting daily price, the expense ratio reduces returns over time, impacting the long-term price performance relative to Sensex.

Tracking Error: The difference between the ETF's returns and the Sensex's returns, tracking error, can affect the ETF's price relative to its benchmark.

NAV: The Net Asset Value, representing the per-share value of the underlying assets, is a key indicator. Large divergences between the market price and NAV create arbitrage opportunities, affecting price alignment.

Economic Factors: Macroeconomic factors like inflation, interest rates, and GDP growth influence market sentiment, impacting both the Sensex and consequently the ETF price.