New Delhi, Sept. 14 -- The Motilal Oswal Nasdaq Q50 ETF has seen an extraordinary jump in its market price over the past week, even as the value of the US stocks it holds has moved lower.

Between 4 and 10 September, the ETF's price on the stock exchange rose 41%, from Rs.141.99 to Rs.199.89. Over the same period, the value of the 50 stocks in its portfolio fell 2.6%, according to Value Research data.

The divergence has pushed the ETF's market price well above its NAV. On 10 September, its NAV was Rs.115.69, compared with a closing market price of Rs.199.89. This represented a premium of 72.8%, according to Value Research.

The sharp increase in the premium has been linked to limited availability of units in the ETF, strong demand on the...