Mexican stocks ended weaker on Friday amid expectations of higher interest rates, although some investors took advantage of lower stock prices to buy companies like ICA that reported improved earnings.
The IPC benchmark stock index ticked 0.12 percent lower to end at 9,991.80 points.
Stocks were pressured on Friday because of the possibility the central bank might move to tighten policy at its next inflation review on March 12, analysts said.
Consumer prices for the first half of February rose 0.32 percent, higher than expected, heightening inflation fears.
"But investors were also taking advantage of low prices to take positions in companies that reported good quarterly reports," said Roberto Galvan, head of Vanguardia Investments in Mexico City.
Friday was the end of Mexico's fourth-quarter reporting season, and while most analysts agreed that results were generally encouraging, investors were expected to turn their attention to the central bank's possible move to up interest rates.
Retail leader Wal-Mart de Mexico (Walmex), which makes up close to 11 percent of the IPC index, lost 1.59 percent to end at 34.02 pesos, giving back some of the gains it saw in the three previous sessions.
Shares of ICA rallied 4.73 percent to 3.54 pesos, and its American Depositary Receipt (ADR) jumped 4.84 percent to $1.95.
The company said late on Thursday that its fourth-quarter net loss narrowed sharply, helped by strong sales growth as the economy showed signs of recovery.
Cell phone operator America Movil, a favourite among Latin American investors, rose 0.25 percent to 19.69 pesos, and its ADR climbed 0.45 percent to $35.66.
The peso weakened marginally, off half a centavo to end at 11.0650 per dollar in quiet end-of-month trading.