AC Milan midfielder Nocerino and Roma striker Borriello have both joined the club on deals until the end of the season and Allardyce says that will be the end of his transfer dealings in the January window.
He said: "I don't expect to be too busy now. Those two signings reach our 25-man squad limit so I don't see us doing any more business.
"Antonio is very excited to play in the Premier League. He's very excited and wants to get into the Italy squad for the World Cup. He is a box-to-box midfielder who's capable in all areas of the pitch.
"When you come into this league, you need intelligence and he has that. It's about what's in between the ears and he's a very experienced player.
"Antonio is fine to be selected as soon as possible, whereas Marco needs a bit of time as he hasn't played a game for six weeks."
Allardyce feels things are slowing getting better on the injury front, with a number of players finally returning to training at Chadwell Heath.
"Things are looking good on the injury front," added the Hammers boss. "We've got our defensive players back into training, including Winston Reid.
"We hope it will be an injury-free 2014, to help us fight over the course of the next 16 games."
Allardyce is looking forward to facing Chelsea on Wednesday night and feels his side are capable of getting a result at Stamford Bridge.
"Jose seems to have made Chelsea very difficult to breakdown again and that frees up their quality players to make an impact," he added.
"West Brom should have beaten Chelsea earlier in the season. So if we play to our best we can get a good end result."