Hi Niveditha,
The short answer is that there isn't such a way, the reason being is that the user story's URL is not stored anywhere, it's being generated by Rally when you click to view the story.
However, you may be able to construct that link using some Excel work. The URL of a story is following this format convention: https://rally1.rallydev.com/#/<Project ObjectID>ud/detail/userstory/<UserStory ObjectID>
(note that 'ud' which I bolded is for your selected scoping 'u' - up, 'd' - down, 'ud' - up and down).
If you exported a list of user stories, you may want to export them along with their UserStory Object ID, and the story's project ObjectID. You can then auto-create a second sheet where the FormattedID is a hyperlink, which you set by concatenating these values according to this convention.
Let us know if that helped.
Sagi