outnumberd gainers in fairly heavy trading.

The Index fell by 1.77 points 1,013.50 as shares in Bermuda Aviation Services fell by 50 cents to just $2.75 during heavy trading of its stock, with 13,666 shares changing hands.

Also going down was the stock of Bermuda Press (Holdings), which fell by $5 , to close at $9.50, with a volume of 200.

The only riser was BF&M's nine percent preferences shares, which went up by 50 cents to $12, with a volume of 1,350. Bank of Bermuda's stock remained unchanged in value at $46.50, with a volume of 134.