The Royal Gazette/Bermuda Stock Exchange Index jumped more than 77 points yesterday as Butterfield Bank and Argus reversed recent losses and posted strong gains.

The index rose 77.73 points or 1.62 percent to close at 4,875.14 on moderate volume of 8,971 shares worth $453,342.30.

Index bellwether Buttterfield rose 50 cents to $56.25 on volume of 7,530 shares while Argus, which declared a share dividend yesterday, soared $2 or 18 percent to its 52-week high of $14.50 on volume of 300 shares.

The gains offset a $1 drop in Belco shares, which closed at $24 on volume of 862 shares.

BF&M was unchanged at $16.25 on volume of just 273 shares.