Aramex jumped 6.2 percent, its biggest gain in four weeks. The firm's geographical diversification will help it grow earnings modestly in 2011 despite regional turmoil, brokerage AlembicHC said, upgrading the stock to overweight from neutral, Reuters said.

Air Arabia edged up 0.4 percent, easing away from Tuesday's all-time low.

DP World gained 1.9 percent to a 10-week high after the port operator said it will ask shareholders to approve a one-for-20 reverse stock split.

The Dubai measure gained 1.3 percent to 1,558 points. The Abu Dhabi index added 0.06 percent to 2,592 points.

Saudi Arabia's Tadawul All-Share Index (TASI) rose 0.4 percent to 6,574.63 points, edging toward Saturday's seven-week high, as petrochemical and property stocks helped lift market sentiment. The sector activity for the day was all positive except three gaining sectors. The gaining sectors ranged from 0.12 percent by the Transport sector to 2.15 percent by the Hotel & Tourism sector. On the other hand, the Media and Publishing sector, the Agriculture & Food Industries sector and the Energy & Utilities sector fell 0.25 percent, 0.41 percent and 1.00 percent respectively. The overall market breadth for the day was positive with 98 advancers against 32 decliners giving it an AD ratio of 3.06, the Financial Transaction House (FTH) — licensed by the Capital Market Authority — said in its daily market report.

The stock market turnover for the day reached SR3.81 billion.

Among petrochemical stocks, Saudi Basic Industries Corp. (SABIC) and Saudi Arabian Fertilizers Co. (SAFCO) climbed 0.5 and 0.4 percent respectively. But Rabigh Refining and Petrochemical Co. (PetroRabigh) fell 2.5 percent after the company said on Tuesday it will shut its refinery and petrochemical complex on April 21 for nearly two months of planned maintenance.

"Maintenance can affect revenues," Reuters quoted Hesham Tuffaha, Bakheet Investment Group head of asset management, as saying. He expects a decline in first-quarter revenues compares to previous quarter."

Chemanol gained 1.4 percent after posting first-quarter earnings increase of 141 percent and a 63 percent rise in operating profit compared to a year ago, according to a statement on the bourse website.

"Chemanol's results were operationally in line, but higher at the net level relative to our estimates owing to a lower-than-expected finance charge," a Nomura note said.

The real estate index added 0.6 percent, with broad gains. Saudi Real Estate gained 0.7 percent.

"I don't think we will continue to see further gains in real estate," said Tuffaha. "We already saw gains on sentiment but not on fundamentals."

Egypt's main index climbed 0.1 percent to 5,478 points, led by El Sewedy Electric after the cable maker said 2010 net income jumped 29.5 percent. Sewedy rose 5.9 percent.

"All stocks, including Sewedy, are trading quite cheaply," said Hashem Ghoneim of Pyramids Capital. "The events in Egypt have not had a major effect on the company. A lot of its business is outside Egypt."

Ghoneim said he expected shares to trade sideways for the rest of the week as investors consolidate positions after the market's strong performance last week.

Qatar's index climbed 1.1 percent to 8,592 points — a three-week high in its fourth gain in five sessions. Industries Qatar rose 1.2 percent. Gainers led losers three to one.

Oman's measure fell 0.3 percent to 6,272 points, weighed down by blue chips. Bank Muscat and Bank Dhofar shed 0.8 percent and 3.3 percent respectively.

The Kuwaiti index climbed 0.4 percent to 6,327 points. The Bahraini index edged 0.5 percent lower to 1,412 points.