BOMBAY -- The Bombay stocks bounced back Friday, rising 5.5% to take the sting out of losing week.

The Sensex rose 515 points to close at 9,810. Still, the index lost 6.1% on the week as rising interest rates continued to hammer speculative stocks across the globe. The Sensex is down 22% off last month's peak.

Reliance Energy

surged 15%,

Grasim

jumped 14% and

Reliance Industries

added 12%.

The only loser on the 30-stock index was

SBI

, which dropped fractionally.

Ranbaxy

rose 6.6% on news of a strategic partnership with Invagen Pharmaceuticals of Hauppauge, N.Y.

This story was created through a joint venture between TheStreet.com and IRIS.