Smaller-company stocks coasted to another record in New York yesterday, but efforts to reignite the blue-chips sector faltered again amid nagging worries about inflation and company profits. In a repeat performance of Monday's weak finish, the Dow Jones industrial average rose just 16.73 points to 7,851.91 after holding a 63-point gain about an hour before the close.

Advancing issues outnumbered decliners by a 9-to-7 margin on the New York Stock Exchange, with 1,604 up, 1,250 down and 560 unchanged. NYSE volume totalled 502.10 million shares, against 466.44 million in the previous session.

The Standard and Poor's 500stock list rose 2.42 to 933.62, and the NYSE composite index rose 0.91 to 486.69. The Nasdaq composite index rose 10.86 to 1,652.21, its third consecutive closing high.

The American Stock Exchange composite index, which is dominated by smaller companies, rose 0.76 to 671.43 for its sixth consecutive record close.