diff --git a/libs/markets/src/lib/components/markets-container/market-list-table.tsx b/libs/markets/src/lib/components/markets-container/market-list-table.tsx
index 3f780ff4c..ae4aa792f 100644
--- a/libs/markets/src/lib/components/markets-container/market-list-table.tsx
+++ b/libs/markets/src/lib/components/markets-container/market-list-table.tsx
@@ -1,29 +1,14 @@
 import { forwardRef } from 'react';
-import { addDecimalsFormatNumber, toBigNum } from '@vegaprotocol/utils';
-import { t } from '@vegaprotocol/i18n';
-import type {
-  VegaValueGetterParams,
-  VegaValueFormatterParams,
-  VegaICellRendererParams,
-  TypedDataAgGrid,
-} from '@vegaprotocol/datagrid';
-import { COL_DEFS } from '@vegaprotocol/datagrid';
+import type { TypedDataAgGrid } from '@vegaprotocol/datagrid';
 import {
   AgGridLazy as AgGrid,
   PriceFlashCell,
   MarketNameCell,
-  SetFilter,
 } from '@vegaprotocol/datagrid';
-import { ButtonLink } from '@vegaprotocol/ui-toolkit';
-import { AgGridColumn } from 'ag-grid-react';
 import type { AgGridReact } from 'ag-grid-react';
-import * as Schema from '@vegaprotocol/types';
 import type { MarketMaybeWithData } from '../../markets-provider';
-import { MarketTableActions } from './market-table-actions';
 import { OracleStatus } from './oracle-status';
-import { useAssetDetailsDialogStore } from '@vegaprotocol/assets';
-
-const { MarketTradingMode, AuctionTrigger } = Schema;
+import { useColumnDefs } from './use-column-defs';
 
 export const getRowId = ({ data }: { data: { id: string } }) => data.id;
 
@@ -51,199 +36,34 @@ const MarketName = (props: MarketNameCellProps) => (
   </>
 );
 
+const defaultColDef = {
+  resizable: true,
+  sortable: true,
+  filter: true,
+  filterParams: { buttons: ['reset'] },
+  minWidth: 100,
+};
+
 export const MarketListTable = forwardRef<
   AgGridReact,
   TypedDataAgGrid<MarketMaybeWithData> & {
     onMarketClick: (marketId: string, metaKey?: boolean) => void;
   }
 >(({ onMarketClick, ...props }, ref) => {
-  const { open: openAssetDetailsDialog } = useAssetDetailsDialogStore();
+  const columnDefs = useColumnDefs({ onMarketClick });
+
   return (
     <AgGrid
       style={{ width: '100%', height: '100%' }}
       getRowId={getRowId}
       ref={ref}
-      defaultColDef={{
-        resizable: true,
-        sortable: true,
-        filter: true,
-        filterParams: { buttons: ['reset'] },
-        minWidth: 100,
-      }}
+      defaultColDef={defaultColDef}
+      columnDefs={columnDefs}
       suppressCellFocus
       components={{ PriceFlashCell, MarketName }}
       storeKey="allMarkets"
       {...props}
-    >
-      <AgGridColumn
-        headerName={t('Market')}
-        field="tradableInstrument.instrument.code"
-        cellRenderer="MarketName"
-        cellRendererParams={{ onMarketClick }}
-      />
-      <AgGridColumn
-        headerName={t('Description')}
-        field="tradableInstrument.instrument.name"
-      />
-      <AgGridColumn
-        headerName={t('Trading mode')}
-        field="tradingMode"
-        minWidth={170}
-        valueFormatter={({
-          data,
-        }: VegaValueFormatterParams<MarketMaybeWithData, 'data'>) => {
-          if (!data?.data) return undefined;
-          const { trigger, marketTradingMode } = data.data;
-          return marketTradingMode ===
-            MarketTradingMode.TRADING_MODE_MONITORING_AUCTION &&
-            trigger &&
-            trigger !== AuctionTrigger.AUCTION_TRIGGER_UNSPECIFIED
-            ? `${Schema.MarketTradingModeMapping[marketTradingMode]}
-            - ${Schema.AuctionTriggerMapping[trigger]}`
-            : Schema.MarketTradingModeMapping[marketTradingMode];
-        }}
-        filter={SetFilter}
-        filterParams={{
-          set: Schema.MarketTradingModeMapping,
-        }}
-      />
-      <AgGridColumn
-        headerName={t('Status')}
-        field="state"
-        valueFormatter={({
-          data,
-        }: VegaValueFormatterParams<MarketMaybeWithData, 'state'>) => {
-          return data?.state ? Schema.MarketStateMapping[data.state] : '-';
-        }}
-        filter={SetFilter}
-        filterParams={{
-          set: Schema.MarketStateMapping,
-        }}
-      />
-      <AgGridColumn
-        headerName={t('Best bid')}
-        field="data.bestBidPrice"
-        type="rightAligned"
-        cellRenderer="PriceFlashCell"
-        filter="agNumberColumnFilter"
-        valueGetter={({
-          data,
-        }: VegaValueGetterParams<MarketMaybeWithData, 'data.bestBidPrice'>) => {
-          return data?.data?.bestBidPrice === undefined
-            ? undefined
-            : toBigNum(data?.data?.bestBidPrice, data.decimalPlaces).toNumber();
-        }}
-        valueFormatter={({
-          data,
-        }: VegaValueFormatterParams<
-          MarketMaybeWithData,
-          'data.bestBidPrice'
-        >) =>
-          data?.data?.bestBidPrice === undefined
-            ? undefined
-            : addDecimalsFormatNumber(
-                data.data.bestBidPrice,
-                data.decimalPlaces
-              )
-        }
-      />
-      <AgGridColumn
-        headerName={t('Best offer')}
-        field="data.bestOfferPrice"
-        type="rightAligned"
-        cellRenderer="PriceFlashCell"
-        filter="agNumberColumnFilter"
-        valueGetter={({
-          data,
-        }: VegaValueGetterParams<
-          MarketMaybeWithData,
-          'data.bestOfferPrice'
-        >) => {
-          return data?.data?.bestOfferPrice === undefined
-            ? undefined
-            : toBigNum(
-                data?.data?.bestOfferPrice,
-                data.decimalPlaces
-              ).toNumber();
-        }}
-        valueFormatter={({
-          data,
-        }: VegaValueFormatterParams<
-          MarketMaybeWithData,
-          'data.bestOfferPrice'
-        >) =>
-          data?.data?.bestOfferPrice === undefined
-            ? undefined
-            : addDecimalsFormatNumber(
-                data.data.bestOfferPrice,
-                data.decimalPlaces
-              )
-        }
-      />
-      <AgGridColumn
-        headerName={t('Mark price')}
-        field="data.markPrice"
-        type="rightAligned"
-        cellRenderer="PriceFlashCell"
-        filter="agNumberColumnFilter"
-        valueGetter={({
-          data,
-        }: VegaValueGetterParams<MarketMaybeWithData, 'data.markPrice'>) => {
-          return data?.data?.markPrice === undefined
-            ? undefined
-            : toBigNum(data?.data?.markPrice, data.decimalPlaces).toNumber();
-        }}
-        valueFormatter={({
-          data,
-        }: VegaValueFormatterParams<MarketMaybeWithData, 'data.markPrice'>) =>
-          data?.data?.bestOfferPrice === undefined
-            ? undefined
-            : addDecimalsFormatNumber(data.data.markPrice, data.decimalPlaces)
-        }
-      />
-      <AgGridColumn
-        headerName={t('Settlement asset')}
-        field="tradableInstrument.instrument.product.settlementAsset.symbol"
-        cellRenderer={({
-          data,
-        }: VegaICellRendererParams<
-          MarketMaybeWithData,
-          'tradableInstrument.instrument.product.settlementAsset.symbol'
-        >) => {
-          const value =
-            data?.tradableInstrument.instrument.product.settlementAsset;
-          return value ? (
-            <ButtonLink
-              onClick={(e) => {
-                openAssetDetailsDialog(value.id, e.target as HTMLElement);
-              }}
-            >
-              {value.symbol}
-            </ButtonLink>
-          ) : (
-            ''
-          );
-        }}
-      />
-      <AgGridColumn
-        colId="market-actions"
-        field="id"
-        {...COL_DEFS.actions}
-        cellRenderer={({
-          data,
-        }: VegaICellRendererParams<MarketMaybeWithData>) => {
-          if (!data) return null;
-          return (
-            <MarketTableActions
-              marketId={data.id}
-              assetId={
-                data.tradableInstrument.instrument.product.settlementAsset.id
-              }
-            />
-          );
-        }}
-      />
-    </AgGrid>
+    />
   );
 });
 
diff --git a/libs/markets/src/lib/components/markets-container/markets-container.spec.tsx b/libs/markets/src/lib/components/markets-container/markets-container.spec.tsx
new file mode 100644
index 000000000..ce1ee5f5d
--- /dev/null
+++ b/libs/markets/src/lib/components/markets-container/markets-container.spec.tsx
@@ -0,0 +1,107 @@
+import { render, screen, act, within } from '@testing-library/react';
+import userEvent from '@testing-library/user-event';
+import * as DataProviders from '@vegaprotocol/data-provider';
+import { MockedProvider } from '@apollo/react-testing';
+import type { MarketMaybeWithData } from '../../markets-provider';
+import { MarketsContainer } from './markets-container';
+
+const market = {
+  id: 'id-1',
+  tradableInstrument: {
+    instrument: {
+      product: { settlementAsset: { id: 'assetId-1' } },
+    },
+  },
+  decimalPlaces: 1,
+  positionDecimalPlaces: 1,
+  state: 'STATE_ACTIVE',
+  tradingMode: 'TRADING_MODE_OPENING_AUCTION',
+  data: {
+    bestBidPrice: 100,
+  },
+} as unknown as MarketMaybeWithData;
+
+describe('MarketsContainer', () => {
+  it('context menu should stay open', async () => {
+    const spyOnSelect = jest.fn();
+    jest
+      // eslint-disable-next-line @typescript-eslint/no-explicit-any
+      .spyOn<typeof DataProviders, any>(DataProviders, 'useDataProvider')
+      .mockImplementation(() => {
+        return {
+          error: null,
+          reload: jest.fn(),
+          data: [market],
+        };
+      });
+
+    let rerenderRef: (ui: React.ReactElement) => void;
+    await act(async () => {
+      const { rerender } = render(
+        <MockedProvider>
+          <MarketsContainer onSelect={spyOnSelect} />
+        </MockedProvider>
+      );
+      rerenderRef = rerender;
+    });
+
+    // make sure ag grid is finished initializaing
+    const rowContainer = await screen.findByRole('rowgroup', {
+      name: (_name, element) =>
+        element.classList.contains('ag-center-cols-container'),
+    });
+    expect(within(rowContainer).getAllByRole('row')).toHaveLength(1);
+    expect(
+      screen.getByRole('rowgroup', {
+        name: (_name, element) =>
+          element.classList.contains('ag-pinned-right-cols-container'),
+      })
+    ).toBeInTheDocument();
+
+    // open the dropdown
+    await userEvent.click(
+      screen.getByRole('button', {
+        name: (_name, element) =>
+          (element.parentNode as Element)?.getAttribute('id') ===
+          'cell-market-actions-8',
+      })
+    );
+
+    await checkDropdown();
+
+    // reset the mock and rerender so the component
+    // updates with new data
+    jest
+      // eslint-disable-next-line @typescript-eslint/no-explicit-any
+      .spyOn<typeof DataProviders, any>(DataProviders, 'useDataProvider')
+      .mockImplementation(() => {
+        return {
+          error: null,
+          reload: jest.fn(),
+          data: [{ ...market, state: 'STATE_PENDING' }],
+        };
+      });
+
+    // @ts-ignore we await the act above so rerenderRef is definitely defined
+    rerenderRef(
+      <MockedProvider mocks={[]}>
+        <MarketsContainer onSelect={spyOnSelect} />
+      </MockedProvider>
+    );
+
+    // make sure dropdown is still open
+    await checkDropdown();
+
+    async function checkDropdown() {
+      const dropdownContent = await screen.findByTestId(
+        'market-actions-content'
+      );
+      expect(dropdownContent).toBeInTheDocument();
+      expect(
+        within(dropdownContent).getByRole('menuitem', {
+          name: 'Copy Market ID',
+        })
+      ).toBeInTheDocument();
+    }
+  });
+});
diff --git a/libs/markets/src/lib/components/markets-container/use-column-defs.tsx b/libs/markets/src/lib/components/markets-container/use-column-defs.tsx
new file mode 100644
index 000000000..0bd0a4bee
--- /dev/null
+++ b/libs/markets/src/lib/components/markets-container/use-column-defs.tsx
@@ -0,0 +1,196 @@
+import { useMemo } from 'react';
+import type { ColDef } from 'ag-grid-community';
+import { t } from '@vegaprotocol/i18n';
+import type {
+  VegaICellRendererParams,
+  VegaValueFormatterParams,
+  VegaValueGetterParams,
+} from '@vegaprotocol/datagrid';
+import { COL_DEFS, SetFilter } from '@vegaprotocol/datagrid';
+import * as Schema from '@vegaprotocol/types';
+import { addDecimalsFormatNumber, toBigNum } from '@vegaprotocol/utils';
+import { ButtonLink } from '@vegaprotocol/ui-toolkit';
+import { useAssetDetailsDialogStore } from '@vegaprotocol/assets';
+import type { MarketMaybeWithData } from '../../markets-provider';
+import { MarketTableActions } from './market-table-actions';
+
+interface Props {
+  onMarketClick: (marketId: string, metaKey?: boolean) => void;
+}
+
+const { MarketTradingMode, AuctionTrigger } = Schema;
+
+export const useColumnDefs = ({ onMarketClick }: Props) => {
+  const { open: openAssetDetailsDialog } = useAssetDetailsDialogStore();
+
+  return useMemo<ColDef[]>(
+    () => [
+      {
+        headerName: t('Market'),
+        field: 'tradableInstrument.instrument.code',
+        cellRenderer: 'MarketName',
+        cellRendererParams: { onMarketClick },
+      },
+      {
+        headerName: t('Description'),
+        field: 'tradableInstrument.instrument.name',
+      },
+      {
+        headerName: t('Trading mode'),
+        field: 'tradingMode',
+        minWidth: 170,
+        valueFormatter: ({
+          data,
+        }: VegaValueFormatterParams<MarketMaybeWithData, 'data'>) => {
+          if (!data?.data) return '-';
+          const { trigger, marketTradingMode } = data.data;
+          return marketTradingMode ===
+            MarketTradingMode.TRADING_MODE_MONITORING_AUCTION &&
+            trigger &&
+            trigger !== AuctionTrigger.AUCTION_TRIGGER_UNSPECIFIED
+            ? `${Schema.MarketTradingModeMapping[marketTradingMode]}
+            - ${Schema.AuctionTriggerMapping[trigger]}`
+            : Schema.MarketTradingModeMapping[marketTradingMode];
+        },
+        filter: SetFilter,
+        filterParams: {
+          set: Schema.MarketTradingModeMapping,
+        },
+      },
+      {
+        headerName: t('Status'),
+        field: 'state',
+        valueFormatter: ({
+          data,
+        }: VegaValueFormatterParams<MarketMaybeWithData, 'state'>) => {
+          return data?.state ? Schema.MarketStateMapping[data.state] : '-';
+        },
+        filter: SetFilter,
+        filterParams: {
+          set: Schema.MarketStateMapping,
+        },
+      },
+      {
+        headerName: t('Best bid'),
+        field: 'data.bestBidPrice',
+        type: 'rightAligned',
+        cellRenderer: 'PriceFlashCell',
+        filter: 'agNumberColumnFilter',
+        valueGetter: ({
+          data,
+        }: VegaValueGetterParams<MarketMaybeWithData, 'data.bestBidPrice'>) => {
+          return data?.data?.bestBidPrice === undefined
+            ? undefined
+            : toBigNum(data?.data?.bestBidPrice, data.decimalPlaces).toNumber();
+        },
+        valueFormatter: ({
+          data,
+        }: VegaValueFormatterParams<
+          MarketMaybeWithData,
+          'data.bestBidPrice'
+        >) =>
+          data?.data?.bestBidPrice === undefined
+            ? '-'
+            : addDecimalsFormatNumber(
+                data.data.bestBidPrice,
+                data.decimalPlaces
+              ),
+      },
+      {
+        headerName: t('Best offer'),
+        field: 'data.bestOfferPrice',
+        type: 'rightAligned',
+        cellRenderer: 'PriceFlashCell',
+        filter: 'agNumberColumnFilter',
+        valueGetter: ({
+          data,
+        }: VegaValueGetterParams<
+          MarketMaybeWithData,
+          'data.bestOfferPrice'
+        >) => {
+          return data?.data?.bestOfferPrice === undefined
+            ? undefined
+            : toBigNum(
+                data?.data?.bestOfferPrice,
+                data.decimalPlaces
+              ).toNumber();
+        },
+        valueFormatter: ({
+          data,
+        }: VegaValueFormatterParams<
+          MarketMaybeWithData,
+          'data.bestOfferPrice'
+        >) =>
+          data?.data?.bestOfferPrice === undefined
+            ? '-'
+            : addDecimalsFormatNumber(
+                data.data.bestOfferPrice,
+                data.decimalPlaces
+              ),
+      },
+      {
+        headerName: t('Mark price'),
+        field: 'data.markPrice',
+        type: 'rightAligned',
+        cellRenderer: 'PriceFlashCell',
+        filter: 'agNumberColumnFilter',
+        valueGetter: ({
+          data,
+        }: VegaValueGetterParams<MarketMaybeWithData, 'data.markPrice'>) => {
+          return data?.data?.markPrice === undefined
+            ? undefined
+            : toBigNum(data?.data?.markPrice, data.decimalPlaces).toNumber();
+        },
+        valueFormatter: ({
+          data,
+        }: VegaValueFormatterParams<MarketMaybeWithData, 'data.markPrice'>) =>
+          data?.data?.bestOfferPrice === undefined
+            ? '-'
+            : addDecimalsFormatNumber(data.data.markPrice, data.decimalPlaces),
+      },
+      {
+        headerName: t('Settlement asset'),
+        field: 'tradableInstrument.instrument.product.settlementAsset.symbol',
+        cellRenderer: ({
+          data,
+        }: VegaICellRendererParams<
+          MarketMaybeWithData,
+          'tradableInstrument.instrument.product.settlementAsset.symbol'
+        >) => {
+          const value =
+            data?.tradableInstrument.instrument.product.settlementAsset;
+          return value ? (
+            <ButtonLink
+              onClick={(e) => {
+                openAssetDetailsDialog(value.id, e.target as HTMLElement);
+              }}
+            >
+              {value.symbol}
+            </ButtonLink>
+          ) : (
+            ''
+          );
+        },
+      },
+      {
+        colId: 'market-actions',
+        field: 'id',
+        ...COL_DEFS.actions,
+        cellRenderer: ({
+          data,
+        }: VegaICellRendererParams<MarketMaybeWithData>) => {
+          if (!data) return null;
+          return (
+            <MarketTableActions
+              marketId={data.id}
+              assetId={
+                data.tradableInstrument.instrument.product.settlementAsset.id
+              }
+            />
+          );
+        },
+      },
+    ],
+    [onMarketClick, openAssetDetailsDialog]
+  );
+};