The Dow Jones industrials clung to a slim gain in New York yesterday, but most stocks fell as investors locked in some profits from the record-setting rebound of recent days.

The Nasdaq composite index fell 14.50 to 1,863.26. The index surged 162 points, or 9.4 per cent, over the prior seven sessions, pushing back toward April 22nd's record of 1,917.61.

Declining issues outnumbered advancers by a 9-to-8 margin on the New York Stock Exchange, with 1,411 up, 1,599 down and 530 unchanged.

NYSE volume totalled 657.51 million shares, down from 678.75 million on Wednesday.

The NYSE composite index fell 1.05 to 576.13, but the American Stock Exchange composite index rose 4.48 to 713.96.