yesterday as the Bermuda Stock Exchange went berserk, recording trading worth more than $3 million -- one of the highest amounts ever for local stocks.

Shares in seven companies changed hands, sending the Exchange Index up by 16.77 to 962.64.

Bermuda Commercial Bank stock closed the day at $7, up by 75 cents on their first day of trading after their suspension pending the completion of the sale of Barclays Bank's 32 percent stake to First Curacao International Bank.

The bulk sale of 70,730 Bank of Bermuda shares was done at $42 -- $2 more than the stock's last traded price, with both the buyer, whose identity was not released, and the seller using the services of the Bank of Bermuda's trading department.

A significantly fewer number of the Bank's shares were being offered yesterday at $397 but a Bank of Bermuda trading spokesperson said that it was an "all or nothing'' deal at the $42 price.

Another $134,458 worth of the Bank's eight percent preference shares also changed hands at an unchanged price of $11.50.

The recent abolition of stamp duty on trades done on the Exchange may be behind the volume increase, speculated Bank of Bermuda president Mr. Donald Lines.

There was relatively minor trading in Bermuda Commercial Bank on its first day back on the Exchange, with just 255 shares changing hands at $7.

Bermuda's other bank, the Bank of Butterfield, also had a good day on the Exchange with its shares rising by 25 cents to close at $241 , with a volume of 5,242.

It was a bad day, however, for Bermuda's utilities companies: Belco shares fell by 50 cents to $20, with a volume of 315, and Telco shares went down by 25 cents to $351 , with a volume of 362. In the day's only other trading, Argus Insurance stock was unchanged at $111 , with a volume of 115.