Exchange with the index dropping 5.33 points or .54 percent to close at 977.65. BSL Holdings closed down 75 cents at $7.25 on volume of 100 while Belco dropped 50 cents to close at $19 on volume of 1,031.

Bank of Bermuda closed down 12.5 cents at $17 on volume of 6,155.

Belco 7% conv. nts. '97 closed unchanged at 101 on volume of 40,000 units.

Bond value was $40,400.

Share volume for the day was 7,286 with a value of $15,885.