diff --git a/thunder/core/jit_ext.py b/thunder/core/jit_ext.py
index 9b7fa1e894..5a6efa434e 100644
--- a/thunder/core/jit_ext.py
+++ b/thunder/core/jit_ext.py
@@ -1384,7 +1384,7 @@ def from_binary_subscr(provenance, *, new_output=False):
                 output = Proxy("subscr")  # name? collectify?
             else:
                 output = p
-            if isinstance(idx, (int, str)):
+            if isinstance(idx, (int, str, Proxy)):
                 if isinstance(idx, int):
                     idx = int(idx)
                 elif isinstance(idx, str):
diff --git a/thunder/tests/test_core.py b/thunder/tests/test_core.py
index 2e10944f16..345eabd921 100644
--- a/thunder/tests/test_core.py
+++ b/thunder/tests/test_core.py
@@ -2937,3 +2937,32 @@ def fn(x):
             return_bsym = trace.bound_symbols[-1]
             assert return_bsym.sym.id == thunder.prims.PrimIDs.RETURN
             assert return_bsym.output is None
+
+
+def test_indexing_with_hashable_object():
+    class HashableClass:
+        def __hash__(self):
+            return id(self)
+
+    h = HashableClass()
+    d = {h: 1, 1: 0}
+
+    def fn():
+        return d[h]
+
+    jfn = thunder.jit(fn)
+    assert jfn() == 1
+    assert thunder.cache_misses(jfn) == 1  # Due to first compilation.
+
+    # Call jfn with no changes
+    # this should be cache hit.
+    assert jfn() == 1
+    assert thunder.cache_hits(jfn) == 1
+    assert thunder.cache_misses(jfn) == 1
+
+    # Change the value of the captured dict.
+    # This should be a cache miss, verify that.
+    d[h] = 2
+    assert jfn() == 2  # Verify that jfn now returns 2
+    assert thunder.cache_hits(jfn) == 1
+    assert thunder.cache_misses(jfn) == 2