The IPC index of 35 leading stocks closed down 0.2 percent or 26.04 points at 15,896.48. Volume eased from the previous two sessions, totaling 141.6 million shares worth 2.75 billion pesos.

Profit-taking set in after the IPC climbed above 16,000 midmorning, close to its previous record high close of 16,120 points on Sept. 30.

In its daily report, the Monex brokerage said it wouldn't rule out a new record high for the IPC, but recommended that investors be selective with the IPC above 16,000 points.

"Much of the rise is influenced by foreign flows that can leave at any time if they see an opportunity elsewhere," Monex said.

DAY OF THE DEAD

Many traders took the day off for the Day of the Dead holiday, which is celebrated Nov. 1-2, but volume still finished at a healthy 107 million shares.

"Trading volume today wasn't that bad, the IPC even passed 16,000 points. ... This shows there's still a lot of interest in the Mexican market after the thirdquarter reports," said one trader.

America Movil, which last week posted solid thirdquarter results and forecast more strong subscriber growth for next year, finished off 0.84 percent at 14.24 pesos after setting a record high of 14.58 earlier in the day.

Its American Depositary Receipt eased 0.86 percent to close at US26.51.

WALMEX

Wal-Mart de Mexico, or Walmex, fell 0.92 percent to close at 52.88 pesos. Its stock had been recovering since Oct. 21 after several weeks of profit-taking.

Giant cement company Cemex edged up 0.72 percent to 57.08 pesos. Cemex is expected to boost sales of cement and readymix concrete for the reconstruction of Cancun, other beach resorts and highways damaged by hurricanes.

Its New York-traded stock firmed 0.99 percent to US53.23.