Nigerian stocks fall for 11 straight days, hit 3-1/2 month low

Nigerian shares fell for the 11th straight day on Wednesday to hit a 3-1/2 low as investors sold off shares in relatively liquid banking and consumer goods stocks.

The Nigeria Stock Exchange (NSE), which has the second-biggest weighting after Kuwait on the MSCI frontier market index, shed 1.28 percent to drop below the psychologically important level of 31,000 points on Wednesday.