As many as 25 units of the Fire Service and Civil Defence tamed the fire around 6:45pm on Wednesday after over one and a half hours of frantic efforts, Dilip Kumar Ghosh, a fire service deputy director, told bdnews24.com.
The fire was reported on the first floor of the two-storey tin-roofed market around 5:15pm, he said.
Officials said the firefighters were dumping the burnt goods in the evening.
There have been no reports of casualties so far.
The authorities were yet to assess the extent of the damage and find out the origin of the fire.
Panicked traders and customers came out when smoke was seen billowing from the east side of the market in the afternoon, Wari Police Station Inspector Mostafizur Rahman said.
“The smoke could be seen from quite far away,” he said.
Abu Taher, the owner of Al Maher Jewellers, said his shop was among 43 jewellery shops on the ground floor.
He believes the fire originated in the centre of the market where shops of readymade garments, tailors, foam mattress, toys, food and cosmetics are housed.
The jewellers started guarding their shops after the fire was tamed. Plainclothesmen were also there, Wari Police Station OC Azizur Rahman said.
Police managed the crowds of onlookers after closing the streets to the market.