Foreign Flows Into India Stocks Poised for January Record

Indian stocks are luring the biggest inflows ever for January as foreign investors grow confident the government will curb the budget deficit and boost the economy.

Overseas funds bought a net $3.01 billion of local shares this year through Jan. 23, data from the market regulator show, surpassing the previous January record of $2.18 billion set last year. Inflows surged to $24.5 billion in 2012, the highest among 10 Asian markets tracked by Bloomberg, helping the benchmark BSE India Sensitive Index, or Sensex, to post its biggest annual jump in three years.