I have recently bought the
N100 ETF, which tracks the Nasdaq 100. This is an Indian ETF.
So, if it is tracking the Nasdaq 100, then why and how is it ticking in my (Indian) timezone?
You have some confusion regarding how ETFs work. N100 is traded on Indian stock exchanges so it will tick during opens hours in the Indian market. People are buying and selling it during the open market, so you should expect for prices to change.
You are trading the ETF and not the underlying stocks in the index, which will tick during US market hours. But that doesn't mean the ETF price will go haywire. It will closely mimic the index on which it is based, but not to the exact decimal point, else it opens up itself to arbitrage opportunities.
If your ETF is priced in your local currency, INR, then although the underlying stocks aren't ticking, the INRUSD exchange rate is and this alone can explain why the ETF value changes outside US trading hours.