Local stocks retreated yesterday in heavy trading, sending The Royal Gazette/Bermuda Stock Exchange Index down more than 30 points.

The Index closed down 32.26 pints or 0.66 percent to close at 4,833.86 on volume of 23,438 shares worth $946,691.

Leading the decliners was Bermuda Commercial Bank, which dropped $1 or 11.1 percent to $8 on thin volume of 600 shares.

Also falling were both major utilities. Belco dropped $1 or four percent to $24, again on low volume of 150 shares, while KeyTech was down 25 cents to $15.50 at the close as 8,070 shares changed hands.

Butterfield Bank was unchanged at $56 in heavy trading as 14,475 shares were exchanged while Watlington Waterworks was unchanged at $12.60 on trading of just 43 shares.