Ultrafast charge dynamics in dispersions of MoS2 nanosheets in N-methyl-2-pyrrolidone are reported. Samples were prepared by the ultrasonication-assisted exfoliation of MoS2 powder, resulting in nanosheets that were predominantly monolayer and had average sheet size of 32.4 ± 0.1 nm. These dispersions were characterized using absorption and photoluminescence spectroscopy, transient photoluminescence measurements and atomic force microscopy before the ultrafast charge dynamics were studied via transient absorption spectroscopy. The transient absorption spectra exhibited bleach peaks and photo-induced absorption peaks in spectral regions corresponding to both the A and B excitons of MoS2. The growth and decay of the features in the B exciton region were determined largely by the dynamics of the exciton population, whilst the features in the A exciton region depend on the dynamics of both excitons and trions.