Telecommunications group KeyTech Ltd. plunged 14 percent yesterday to send local stocks lower.

The company, whose holdings include the Bermuda Telephone Company and M3 Wireless, shed $1.40 to close on $8.55. The big move was made on light volume, however, with only 106 shares trading.

Butterfield Bank continued its recovery, gaining five cents, or 0.9 percent, to reach $5.50, as 73,902 shares changed hands.

Energy company Belco Holdings Ltd. also gained ground, rising 50 cents, or 3.1 percent, to close on $16.50. Six hundred Belco shares traded.

Insurer Argus Holdings Ltd. was the only other stock to change value, falling five cents, or 0.7 percent, to $7.05.

The Royal Gazette/Bermuda Stock Exchange fell 20.44 points, or 0.9 percent, to 2,335.25.

Volume was 75,008 shares and turnover was $420,677.