MSEI Unlisted Share Jumps 28%: In 7 Days : Market Maker Effect?

MSEI Unlisted Shares has seen a sudden jump of 28% in its share price, and something intriguing is happening with the MSEI. In just a few weeks, the exchange has gone from barely noticeable activity to recording multi-crore trading volumes and rising investor interest. So what triggered this sudden shift, and is this the start of MSEI's comeback story? Let's discuss in detail.

MSEI Unlisted Share Price Growth In 1 Week

The MSEI unlisted share price shows a noticeable upward trend, likely reflecting improved sentiment around the exchange. The price was around Rs. 4.95 on April 2, and on 8th April the current MSEI unlisted share price is now approximately Rs 6.35. This is a nearly 28% increase in the MSEI unlisted share price in just one week. This sharp increase is likely not random.

There is likely a primary reason behind this momentum, which is the sudden increase in trading activity on MSEI, where traded value and volumes have expanded rapidly in early April. Improved liquidity on the exchange boosts investor confidence in its long-term potential.

Another key reason is the involvement of Zerodha, which is already a trading member of MSEI and has also backed the exchange financially. The association of a major broker like Zerodha can add credibility and future participation expectations. Improving liquidity, rising participation, and growing ecosystem support drive the recent MSEI unlisted share price movement.

MSEI Trading Quantity & Trading Value Analysis

Source: MSEI Trade Summary

Week 1 (2 March - 12 March)

Trading activity on the MSEI unlisted shares remained low and inconsistent during this phase. Traded value mostly stayed below Rs 75 lakhs with occasional spikes, while traded quantity fluctuated from 7,477 shares to 49,466 shares, possibly without any clear trend. Overall, the data might reflect a low-liquidity environment with limited participation.

Week 2 (13 March - 24 March)

A slight improvement began to show as both traded value and quantity increased marginally. Values touched Rs. 120-Rs. 140 lakhs on some days, and quantities crossed 1 lakh shares more often. The traded quantity was 164,572 shares on March 13. However, the movement was likely to remain uneven.

Week 3 (25 March - 30 March)

Trading value saw a sharp jump to Rs.385.71 lakhs (Rs.3.85 Cr) on March 30, but traded quantity remained low at 44,325 shares.

Week 4 (1 April - 2 April)

The real shift happened on April 1, 2026, when MSEI officially activated market makers under its Liquidity Enhancement Scheme (LES). The trading value jumped sharply to Rs.303,614 lakhs (Rs.30.36 Cr) with a traded quantity of 7.8 lakh shares. This momentum accelerated further on April 2, with value increasing to Rs.13,255.78 lakhs (Rs.132.56 cr) and quantity crossing 1.04 crore shares. The increase could be indicating real liquidity entering the system. Market makers drove the rise by placing continuous buy and sell orders, improving execution, increasing participation, and creating a steady trading flow. Now this will likely be the true breakout point for MSEI unlisted shares.

Week 5 (6 April - 7 April)

On April 6, the trading value peaked at Rs. 41,497.55 lakhs (Rs. 414.98 cr), and the traded quantity surged to 2.36 crore shares. This can be the highest level of activity recorded until now, confirming strong and deep participation in the market. On April 7, the trading value moderated to Rs. 17,321.04 lakhs (Rs. 173.21 cr), with the quantity at 1.80 crore shares. While this figure was lower than its peak, it likely remained elevated, indicating that the market might not be weakening but instead stabilising at higher levels. Hence, this phase might be a transition from rapid expansion to more sustainable and consistent trading activity.

Also Read: Why MSEI Trading Volume Reached 30 Crore On 1st April

Zerodha Joins MSEI: What It Means for the Exchange’s Future

Zerodha’s entry as a trading member of the MSEI Rs 3,03,614 lakhs (Rs. 30.36 can signal a significant positive change for the exchange’s future. Being India’s largest stockbroker, Zerodha’s presence likely adds both credibility and confidence to MSEI’s ecosystem. Zerodha is now active across multiple segments like capital markets, derivatives, currency, and debt, which means MSEI can gradually become more integrated into the broader Indian trading system. This is important because it shows that even large market players are starting to take MSEI unlisted shares seriously. Therefore, Zerodha's joining MSEI can be less about today’s volumes and more about future potential, participation, and trust in the exchange’s comeback story.

MSEI vs NSE & BSE: Can It Really Compete?

Currently, MSEI is still far behind giants like the NSE and BSE in terms of volume, liquidity, and active participation. But the recent restart on January 27, the entry of market makers, and growing interest from players like Zerodha show that MSEI might be slowly building its ground. It may not challenge NSE or BSE immediately, but it’s likely to be positioning itself as a long-term alternative, especially if liquidity continues to improve.