A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India. REUTERS

Indian shares snapped three-day fall on Thursday, led by gains in refiners such as Reliance Industries Ltd as oil prices dropped overnight.

Equities in Asia turned cautious following weak closing on Wall Street overnight.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent in early trade.

Stocks have made little headway this month as scant progress on U.S. tax reform and record high levels for many markets restrict appetite for risk-taking investments.

The S&P BSE Sensex rose 1.06 percent at 33,106 while the broader NSE Nifty advanced 0.96 percent to 10,214.

Among the top Sensex gainers, Reliance Industries jumped 2.6 percent, Tata Motors advanced 1.6 percent, Infosys gained 4 percent while State Bank of India rose 2.7 percent.

The S&P BSE energy index added as much as 1.3 percent and was among the top sectoral gainers.

Suven Life Sciences jumped 4.2 percent after it was granted one product patent from Hong Kong, two product patents from India and one product patent from U.S.

But Suzlon Energy declined as much as 6.2 percent, their lowest in more than a year. The renewable power producer suspended operations and declared a lockout at a plant in the southern Indian state of Karnataka due to a workers' dispute.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.