NEW YORK, JULY 8 -- The Dow Jones average of 30 industrials set a record, closing high in active trading today, but the market failed to score a broad-based advance.

The Dow Jones industrial average climbed 14.19 to a record 2463.97, toppling its former high of 2451.05 set June 25.

Some of the day's best gains occurred among stocks rumored to be candidates for takeover or restructuring. Technology stocks, led by International Business Machines, rebounded from Tuesday's weakness, while most oil issues, strong early in the week, saw some profit taking.

Broad-market indexes finished just under records set June 22. The New York Stock Exchange composite index gained 0.53 to 173.42. Standard & Poor's 500-stock index rose 0.89 to 308.29. The price of an average share rose 12 cents.

On the Big Board, 207.46 million shares changed hands, compared with 200.73 million traded Tuesday.

While a record high for the closely watched Dow Jones industrial average is frequently a reason for the market to celebrate, many participants were less than exuberant about today's climb.

"It's depressing," said Al Goldman, head of technical research at A.G. Edwards & Sons in St. Louis. "A new high for the Dow in a market where the advance is so narrow is like showing up for a party in an expensive rental costume and finding out that no one else came. This is the last hurrah of a 7-week-old rally."

Goldman said that a 10 percent decline in the Dow from current levels is needed "to restore the health" of the bull market.

Stocks opened higher but quickly turned mixed when blue chips erased initial gains. Under pressure from profit takers, the market was posting narrow losses at midmorning. Prices recovered a bit by early afternoon and posted narrow gains for the remainder of the session.

"We are at new highs, but people are not enthusiastic," said Peter Furniss, vice president in equity trading at Smith Barney, Harris Upham & Co.

On the trading floor, Pay 'N Pak was the most active NYSE-listed issue, unchanged at 21 1/8.

Texaco followed, rising 1/2 to 45 1/4 on volume of 4.21 million shares. Australian investor Robert Holmes a Court raised his stake in the company to 7.4 percent. AT&T was third, adding 1/4 to 29 1/4.

Gillette climbed 2 1/4 to 40 1/2 on volume of 3.3 million shares amid speculation that the company could be bought by a friendly suitor for $48 a share.

Speculation that they were likely restructuring or takeover candidates sent Lockheed up 3 1/2 to 57 3/8, Litton ahead 3 5/8 to 106, Colgate-Palmolive up 1 1/4 to 49 7/8, Burlington Northern ahead 3 to 83 1/2, International Multifoods up 3 3/4 to 67 1/2 and Curtiss-Wright ahead 3 3/4 to 67 1/2.

IBM jumped 2 7/8 to 166 3/4. Cray Research rose 5/8 to 99 1/8 and Compaq Computer jumped 1 3/4 to 44 3/4. Digital Equipment fell 1 1/4 to 161 5/8.

Japanese multinationals skidded after stock prices plunged in Tokyo. Matsushita Electric dropped 11 3/4 to 142 3/4, Hitachi fell 5 3/4 to 71 3/4 and Honda dropped 5 1/2 to 103 1/8.

Volume of NYSE-listed issues including trades in stocks on regional exchanges and in the over-the-counter market totaled 245.78 million shares, compared with 236.11 million in the previous session.

Prices advanced in active trading on the American Stock Exchange and ended mixed in over-the-counter trading.

Blocker Energy was the most active Amex issue, easing 1/8 to 6 1/4.

In OTC trading, Genentech slipped 3/4 to 37 7/8 after falling 1 3/8 Tuesday on news that a London court ruled against it in a drug patent case.

The American Stock Exchange market value index rose 2.12 to 346.57 and the price of an average share rose 10 cents. Advances led declines 335-286 among the 868 issues traded. Composite volume was 16.74 million, compared with 16.13 million Tuesday.

The National Association of Securities Dealers composite index rose 0.38 to 424.93.