JSE-listed MTN aided the JSE's All Share Index in reaching a record high on Friday, to close at 40 429, a 0.8% gain.
MTN, which contributes about 5% to the total market capitalisation of the bourse, changed 2.09% to close at R180.48 as 3.15 million shares changed hands.
The all share was buoyed last week by a last-minute deal in the US that staved off the dreaded so-called "fiscal cliff", which would have led to higher taxes and budget cuts.
Over 2012, MTN tracked the All Share Index as it gained around 23% during the year, while MTN's share price improved by about 24%. However, in comparison to some of its peers based on size, the stock did not gain as much ground.
Miner Anglo America, which was hit by the strikes towards the end of the year, lost 8% during 2012, but rival BHP Billiton gained 27%, while Swiss luxury company Richemont improved 68% and SABMiller gained 39.7%.
MTN accounts for around 7% of the Satrix 40 index, which tracks the top 40 stocks on the bourse. Vodacom, which accounts for about 1%, gained 39% during the course of 2012.
While MTN will have contributed to the JSE's gains, on its own it is not large enough to drive the growth of the entire All Share Index. MTN has a market capitalisation of R339.9 billion.
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