The Bermuda Stock Exchange yesterday shed half its gains from Wednesday when the Royal Gazette/BSX Index had jumped more than 100 points.

The Index fell 63.05 points or 2.38 percent to 2,580.76 yesterday. Trading was light, with only $132,161 worth of shares changing hands.

The Bank of Butterfield, which gained $2 on Wednesday to reach a 52-week high, resettled yesterday; the share price fell $1.75 to $33.25. Butterfield's competitor, the Bank of Bermuda, gained the same amount on Wednesday, but yesterday the share price fell $1 to $48.

LOM (Holdings) Ltd., which began trading last month, also declined. Shares fell from $4, their initial public offering price, to $3.90.

Two issues rose yesterday, but could not counter the effect of activity in the banking sector. Argus Insurance Company and BF&M rose a quarter point to $22.25 and $8.25 a share.

KeyTech was unchanged at $42.50. The Bermuda Telephone Company's 7.75 percent bond gained 55 cents to close at $96.55.