Hi piyush,
yes, market makers will be listed on either the buy or sell, depending on the customer orders, feelings regarding future movement of the stock, or the responsibility to provide a two sided market. However after having done that the market makers may then leave the market and reinstate a new bid in order to make a profit.
For ex. suppose Goldman is currently willing to sell stock in QCOM. the market is 137 3/4 x 138 1/8. If Goldman sells 1,000 shares at $138 1/8 where the market maker is listed on the offer, he may leave the list of other market makers attempting to sell stock there and instead bid for the stock. This bid may be lower than the current market, say 137 5/8 or hell, Goldman may create a new market by bidding 137 7/8. Usually, if a market maker is fulfilling the duty of providing a two-sided market and not acting as an agent for a customer, that market maker may place his name on the current list of buyers. KEY - If the market maker is successful at repurchasing the stock at this price, he has what they call " made the spread," and netted a profit of 3/8 or $375 on 1000 shares.
Hope this helps.
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