Explain market equilibrium with the help of a diagram?

Dear student,
A situation in which the supply and demand curves of the market intersect each other, then the market is said to be in equilibrium. This is where demand and supply are equal. Since, at this point, there is neither surplus nor shortage in the market demand or supply, it is known as market equilibrium.
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Under perfect competition, the market (or industry's) equilibrium can be explained under the following two situations. The answer to your question is provided in our study material. Please go through the hereunder link to get the complete conceptual answer :-
https://www.meritnation.com/cbse-class-11-commerce/economics/introductory-microeconomics/market-equilibrium/studymaterial/161_16_338_1984_5821

Regards