Indian shares gained on Thursday, led by energy and metal stocks on concerns over tight inventories, with investors focusing on a cluster of earnings due later in the day.

The NSE Nifty 50 index was up 0.4% at 18,330, while the S&P BSE Sensex rose 0.4% to 61,558 by 9:25 am. .

The Nifty Metals index and the energy index rose 1% each on worries around tight supplies for industrial metals and crude.

Future Retail fell 4% after a Singapore arbitration panel ruled on Wednesday that the retailer must take part in arbitration over a commercial dispute with Amazon.com Inc.

Investors now eye September-quarter results from a slew of companies, including Asian Paints, JSW Steel , TVS Motor Co and Biocon.