Telecommunications company KeyTech Ltd. experienced the largest fall in a busy week of trading that ended with the local stock market at its lowest level in 11 and a half years.

KeyTech, the owner of the Bermuda Telephone Company, slumped 90 cents, or 12.9 percent, to $6.10, as 53,800 shares traded.

Fellow utilities company Ascendant Group Ltd. also fell in a high-volume week. The Belco owner slipped 55 cents, or 3.9 percent, to $13.50, as 25,396 shares traded, in the week the company announced a 2009 profit of $19.5 million.

Interest is high in the Butterfield Bank rights offering, which closes on May 11. Almost 12.8 million of the rights to buy shares at $1.21 traded last week alone, as their price rose one cent to seven cents.

The bank's common shares remained unchanged on $1.35, as 125,880 shares changed hands.

Bermuda Aviation Services Ltd. fell one percent, while insurer BF&M Ltd. gained 1.1 percent.

The Royal Gazette/Bermuda Stock Exchange Index fell 23.65 points, or 1.85 percent, to end the week on 1,276.39. Total turnover topped $2 million for the week.