Underlying Index Performance: The ETF's price closely tracks the Nifty Momentum 30 Index. Any fluctuations in the index directly impact the ETF's NAV and market price.

Supply and Demand: Higher demand for the ETF drives the price up, while increased selling pressure leads to a price decrease. Market sentiment and investor appetite play a crucial role.

Expense Ratio: The ETF's annual expense ratio reduces the returns, indirectly affecting the price over time. Lower expense ratios are generally more favorable.

Tracking Error: Deviations between the ETF's returns and the Nifty Momentum 30 Index returns, known as tracking error, can influence the ETF's price and attractiveness to investors.

Market Sentiment: Overall market sentiment, influenced by economic news, political events, and global factors, affects investor confidence and their willingness to invest in momentum-based ETFs.

Trading Volume & Liquidity: Higher trading volumes and liquidity ensure smoother price discovery and tighter bid-ask spreads, resulting in a more efficient and stable ETF price.

Fund Manager Expertise: The fund manager's ability to effectively replicate the Nifty Momentum 30 Index and manage the ETF's portfolio contributes to the ETF's performance and price.

Regulatory Changes: Changes in regulations governing ETFs or the underlying securities within the Nifty Momentum 30 Index can affect the ETF's structure, operations, and subsequently its price.