All trading was down on The Royal Gazette/Bermuda Stock Exchange Index (BSX) yesterday.

The biggest drop was Argus Group Holdings Ltd., which fell 95 cents (5.6 percent) to close at $16, with 3,700 shares traded.

The banking sector was also hard hit with Bermuda Commercial Bank Ltd. - warrants declining 25 cents (0.25 percent) and Butterfield Bank dropping five cents (0.3 percent) to close at $2.25 and $17.15 respectively.

Belco Holdings Ltd. also fell five cents (0.2 percent) to finish on $20.50, as 1,900 shares changed hands.

As a whole, the Index was down 45.92 points (0.9 percent) at 5,057.91, with a total of 24,885 shares worth $356,462 traded.

The BSX Insurance Index also went into decline, falling 0.57 percent to close at 1,082.29.