On 1st April 2026, the Metropolitan Stock Exchange (MSEI) recorded unusually high activity with MSEI equity trade value, reaching a record Rs 30 crore in a single day. This was after the official activity of market makers for liquidity enhancement.
In this blog, we are covering the following: -
What Is the MSEI Market Maker Program?
MSEI’s Official Press Release For Appointing Market Makers
What All Happened On April 1, 2026?
Top Gainers For 1st April Equity TradesWhat Does This Mean for MSEI’s Business Growth?
Can MSEI compete with NSE and BSE?
What Is the MSEI Market Maker Program?
As MSEI relaunches its trading initiatives and tries to grow its equity trades, initially, such phases face liquidity issues in new exchanges due to little participation in the new exchanges. To solve this, MSEI introduced the Liquidity Enhancement Scheme (LES).
This scheme gives incentives to certain participants known as "market makers" to continuously keep placing buy and sell orders. This helps the exchange become more liquid and have reliable price discovery. In return, the market makers get certain incentives for their activity.
Read in depth here: MSEI Liquidity Enhancement Scheme (LES), Process And Impact
MSEI’s Official Press Release For Appointing Market Makers
On 24th March, MSEI released a press note announcing the official appointment of market makers. The exchange stated, "Effective April 1, 2026, MSE will initiate liquidity enhancement measures as part of its continued efforts to deepen market participation and create a more vibrant trading ecosystem." These steps reflect MSE’s ongoing commitment to fostering a transparent, efficient, and competitive marketplace for all stakeholders.”
What All Happened On April 1, 2026?
After the official appointment of market makers, MSEI saw record-breaking equity trading activity of Rs 30.36 crores on 1st April 2026, with 780,674 shares traded on the same date. The previous trading day of 30th March recorded just 44,325 trades valued at Rs 3.85 cr.
This is an unusually high activity with an 18X jump in trading volume and almost an 8X jump in trade value from 30th April trading.
Top Gainers For 1st April Equity Trades
Here are the biggest movers on 1st April, 2026
Source: MSEI Daily Reports
What Does This Mean for MSEI’s Business Growth?
A) Move Towards Listing Readiness.
The market maker activity is bringing high liquidity, trade volumes, and value growth for MSEI. This reduces costs, improves pricing, and makes trading easier, ultimately making the exchange more competitive.
B) Better Volumes Mean Better Business
If investors get an incentive to trade on MSEI, the rise of companies listing and trading volumes will be a direct income for MSEI in terms of the transaction charges and listing fees.
C) Move Towards Derivatives Growth
Currently, only equity share trading is active on MSEI. But as a next move, MSEI can appoint market makers for growing derivatives activity on the exchange.
Can MSEI compete with NSE and BSE?
MSEI is the 3rd largest stock exchange after NSE and BSE, being India's top 2 stock exchanges. With a restart in trading from Jan 27, 2026 and market makers coming into action, the exchange has improved its liquidity and tightened its bid-ask spreads.
When it comes to competing with huge players like NSE and BSE, MSEI still has a long way to go. But the exchange has begun its journey in a significantly improved way to become a credible alternative. We will also see its impact on MSEI Unlisted Shares.
