The Dubai index was up 0.3 percent on the back of low-priced, speculative stocks, with healthcare and education investment firm Amanat rising 2.6 percent in the market's heaviest trade.
Blue-chip Emaar Properties fell 0.7 percent.
Abu Dhabi lost 0.6 percent as First Gulf Bank , which jumped 3.3 percent on Tuesday, fell back by 1.6 percent.
Qatar was almost flat, though banks were bought.
Doha Bank gained 2.1 percent from near a two-year low in unusually heavy trade.
Islamic Holding, a financial and investment firm, was the most heavily traded stock and climbed 3.4 percent after an 8.3 percent gain on Tuesday.
The company is boosting its capital by as much as 50 percent through a rights issue.
Eligibility for the rights closed on Dec. 1 and subscriptions will run from Dec. 27 to Jan. 13.