Sensex falls to 76,861.11 as Nifty hovers above 24,000

Persistent Systems news hits it, autos

Profit booking and sector-specific losses pulled things down.
IT stocks felt the heat after Persistent Systems' big takeover news sent its shares tumbling 10%, with concerns over high valuations and risks.
Auto stocks also struggled, dragging their index down nearly 2%.
Analysts say Nifty's inability to break past the key 24,100 mark is making traders cautious about what's next.