Nigerian stocks fell 1.38 percent on Wednesday to a one-month low, driven mainly by falls in the banking and energy sectors, brokers said.

Africa’s second biggest index shed 1.38 percent to 40,622 points at 1200 GMT, a level last seen on December 31. It was the third consecutive day of loses in a stock market that returned 47 percent to investors in 2013.

Nigeria’s oil and gas index fell 3.26 percent with Oando the seeing the sharpest loses of 10 percent.

Source: Reuters (by Chijioke Ohuocha)