Underlying Asset Performance: The price closely tracks the Nifty 50 index's performance. Upward movements in the index generally lead to price increases, and vice versa. Supply and Demand: Market forces like investor demand influence the ETF's price. High demand pushes the price up, while increased selling pressure can lower it. NAV Discrepancies: Differences between the ETF's market price and its net asset value (NAV) can occur, influenced by demand and trading activity. Arbitrage opportunities minimize large deviations. Expense Ratio: While not a direct short-term driver, the ETF's expense ratio affects its long-term returns by reducing overall gains. Market Sentiment: General market optimism or pessimism significantly influences investor behavior and thus, the demand for and price of the ETF. Global Economic Factors: Changes in global economic conditions, such as interest rate decisions or international trade policies, can impact the Indian stock market and the ETF's price.