The Royal Gazette/Bermuda Stock Exchange Index fell 29.65 points or 1.23 percent yesterday to close at 2,385.51. A total of 16,210 shares worth $440,720 were traded.

In the banking sector, the Bank of Butterfield fell $0.75 or 2.3 percent to close at $32 on volume of 12,210 shares. On the Nasdaq exchange, Bank of Bermuda closed down seven cents at $38.26 on volume of 8,700 shares.

Bermuda Commercial Bank also fell, by 30 cents or 4.5 percent to close at $6.30 on volume of 2,600.

The only other stock to change for the day was Belco Holdings Ltd. which fell $2.50 or 7.7 percent to close at $30 on volume of 400 shares.