Indian markets gave up gains and closed lower on Wednesday with profit booking seen in index heavyweight RIL. Global markets were generally undecided ahead of the US Federal Reserve meeting and mixed earnings reports in addition to rising virus cases forcing economies to reconsider restrictions to contain the spread. The BSE Sensex ended at 38,071.13, down 421.82 points or 1.10%. The Nifty ended at 11,202.85, down 97.70 points or 0.86%.