Mexican stocks got off to a positive start Tuesday, but the rally began losing momentum as U.S. equities turned lower.

The IPC index of leading issues was up 0.5% at 29,544.87 points around 10:10 a.m. EDT. Volume was 44.6 million shares worth 1.38 billion pesos ($102 million).

The rise follows two sessions of gains after a week of profit-taking on the local market. “The IPC has moved slightly above its 10-day moving average, paving the way for a new push past 30,000 points,” BBVA Bancomer said in a report.

IPC heavyweight America Movil (AMX) L shares were up 0.5% to MXN29.60, and banking group Banorte (GFNORTE.MX) O shares were up 1.6% to MXN44.16.

Cement maker Cemex (CX) CPO shares were off 1% to MXN17.66. Cemex said late Monday it completed its $1.78 billion capital increase after underwriters bought 195 million CPOs in over-allotments. The money will be used to lower debt.