The Royal Gazette/Bermuda Stock Exchange Index fell for a second day as bank stocks retreated.

The Index, which dropped 1.5 percent on Tuesday, fell a further 15.75 points or 0.33 percent in thin trading yesterday to close at 4,797.41.

Butterfield Bank led the decline, dropping 25 cents to $55.75 on volume of 1,800 shares while Bermuda Commercial Bank warrants dropped 15 cents to 12 percent to close at $1.10 on volume of 500.

Watlington Waterworks dropped $1.40 or ten percent off its 52-week high to end the day at $12.60 on volume of 1,000.

MediaHouse 8 percent preferred shares were unchanged at $3.50 on volume of 100 shares.

A total of just 3,400 shares worth $114,200 were traded.