Bangladesh's stock market has maintained an upward trend for eight consecutive days now as the prime index of the country's premier bourse continues to make record advances.

The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), surged 62 points, or 0.86 per cent, to 7,258 points yesterday.

"People are rushing for the market seeing the index's rise," said a top official of a stock brokerage.

Besides, people are not concerned about potential corrections and big players are taking advantage of this by playing with the general idea.

"People's psychology is they should invest more in the market when indexes soar but this is when big players start to sell," he said, adding that investors remain highly optimistic.

This optimism is sometimes good for the market but it might be harmful for investors.

"So, they should take their profits," the official said.

At the DSE, 177 stocks advanced, 177 fell and 22 remained unchanged.

On the same day, DS-30, the blue-chip stock index, rose 33 points to 2,647 points.

Although a profit taking tendency was seen among investors in the last few sessions, most stocks have now appreciated by as much as 15 per cent to 20 per cent, a merchant banker said.

The DSEX soared 435 per cent, or 7.4 per cent, in the last eight days, according to the DSE data.

A correction was expected but higher investor participation propped up the market, he added.

Turnover, an important indicator of the market, rose to Tk 2,696 crore while it was Tk 2,555 crore previously.

Meghna Life Insurance Company Ltd topped the gainers' list, rising 10 per cent, followed by

Olympic Industries Limited, National Housing Finance and Investments Limited,

Rangpur Foundry Ltd, and Kohinoor Chemical Company (Bangladesh) Limited.

Meghna Pet Industries Ltd shed the most, losing 7.52 per cent, followed by Meghna Condensed Milk Industries Ltd, Imam Button Industries Ltd and Samata Leather Complex Ltd.

Stocks of Square Pharmaceuticals Ltd were traded the most, worth Tk 81 crore, followed by Beximco Pharmaceuticals Ltd, British American Tobacco Bangladesh and Meghna Life Insurance Company Ltd.

Chittagong Stock Exchange (CSE) also rose yesterday as the CASPI, the general index of the port city bourse, edged up 152 points, or 0.72 per cent, to 21,131.

Among the 332 stocks to undergo trade, 144 rose, 167 fell and 21 remained unchanged.