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The Pakistani stocks yielded a mouth-watering return of 38 per cent in the financial year ended June 30, 2021. That was the highest return provided to the investors after 14 years 2013-14 had given a return of 41pc. But it has to be reckoned that over the past five years, the average yearly return dropped to 7pc as in the last three of the five years, the market performed extremely poorly: 2017-18 gave out a negative return of 10pc; 2018-19 a negative return of 19pc and 2019-20 yielded a nominal positive return of 1.53pc. With such a poor base, the 38pc return in 2020-21 is neither strange nor something to jump with joy.

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