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MEXICO CITY, Nov 10 (Reuters) - Mexican stocks edged up on Tuesday as gains in retailers Wal-Mart de Mexico and Elektra offset losses at cement maker Cemex as the peso edged higher.

The IPC stock index .MXX added 0.43 percent to 30,777 points, supported by purchases of the entire index to sell to pension funds. The Mexican peso MXN= MEX01 managed to gain 0.23 percent to 13.245 per U.S. dollar.

"We are getting close to the end of the year where there will be the fight for pension fund rankings and no one wants to be on the outside of the equity rally we have seen," said a trader in Mexico City.

In local trading, index heavyweight Wal-Mart de Mexico (WALMEXV.MX: Quote, Profile, Research) added 0.89 percent to 49.87 pesos. Much of the IPC's gains were supported by an advance in less-liquid stocks, such as appliance dealer Elektra (ELEKTRA.MX: Quote, Profile, Research) and breadmaker Bimbo (BIMBOA.MX: Quote, Profile, Research), which both gained close to 2 percent.

"When you see those stocks holding up the IPC, you know a pension fund is coming in," said another trader.

Mexican regulators have been loosening rules allowing local pension funds to increase their exposure to stock markets after years of being limited to buying mostly government debt.

Cemex (CMXCPO.MX: Quote, Profile, Research) slumped 3.56 percent to 15.17 pesos, pulling back from a more than 6 percent surge on Monday.

Mexican equities usually closely track markets in the United States, its main trading partner.

Wall Street stocks zigzagged on Tuesday as investors took a breather after the Dow Jones industrials touched a fresh 13-month high while the U.S. dollar rose from a 15-month low as risk appetite eased.