Market film follows the story of Muskaan Bano (Manisha Koirala) from her life in Indian brothels after being sold there by her Arab husband to her attempts at revenge later in life.
When newly married bride, Neelu, was brought in the brothel by her husband, Appa Rao, on false pretences, Muskaan Bano, a courtesan for several years, also remembered her unfortunate story. Things change when the police raid the brothel, and apprehend the patrons and the courtesans.
Inspector Sawant takes a liking to Muskaan, and decides to promote her to another "market", albeit more sophisticated, to which she agrees. Thereafter there is no looking back for Muskaan, who is now known as Malika, and the sky is the limit, including avenging herself against her Arab husband, who sold her at the flesh market, with deadly results, as well as a chance at meeting the person who really runs India.