Equities should edge up on Friday as investors hunt for bargains in battered stocks, but the market outlook is still hazy with lingering worries about a sharp global economic slowdown weighing on sentiment.

Satyam Computer Services, India’s No. 4 software exporter, is expected to report a 31 per cent rise in quarterly net profit, but the focus will be on its growth outlook for the fiscal year to March given the global financial crisis. “The market should be good today after the kind of losses we saw in the last couple of sessions. In my view the market has bottomed out,” said Mumbai-based independent investment consultant S.P. Tulsian. “But things are not cool and quiet on the international front, so the investors will be cautious despite any short-term gains.”

Asian shares were uncertain on Friday, with some indexes down, despite gains on Wall Street on encouraging earnings signals from technology firms such as IBM eased some of the concerns over a global recession.

At 0343 GMT, Tokyo’s Nikkei was up 1.7 per cent, Hong Kong had lost 0.6 per cent, Seoul was 1.4 per cent lower and MSCI’s measure of other Asia Pacific stocks was up 0.9 per cent.

Nifty futures traded in Singapore were up 1.3 per cent.

India’s main 30-share BSE index fell 2.11 per cent on Thursday to 10,581.49, after having fallen as much as 7.3 per cent during trade to its lowest since July 2006. The index is down nearly 48 per cent so far this year.

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