The sharemarket had its first down day in three days, the benchmark Top 50 Index easing 22 points to 4923.
Craigs Investment Partners head of wealth research Mark Lister says Chorus and Xero were responsible for the decline.
He says in terms of Chorus a lot of uncertainty has been created with the review of pricing to the copper network service, as well as the Government's decision to do an independent review of Chorus's financial position.
Mr Lister says Chorus stock is substantially lower than it was last week.
Chorus shares fell 21.5 cents to $2.10. The shares have fallen from $2.63 before copper pricing decision was announced on Tuesday.
Mr Lister says Xero has had a stellar run over the last few weeks and earlier on Thursday it went as high as $41.50, but it's come off the boil since then.
Xero shares fell $3.30 to $34.
