Observation: Run Results steps in the Result tree appears as pass (most of them).. HOWEVER, when i analyse the HTML format of response (in Response data tab) home page and logout page are not loaded itself.. it still shows Login page itself..
Yes, this is why for every test one is expected to check for results. A simple HTTP 200 response (HTTP OK) is not sufficient as unexpected, but valid, pages may be returned which will be inappropriate for the business process. If your virtual user continues while off track then the odds are high that you will run into an unhandled exception (HTTP 500) as you begin presenting data to the server which is out of context to the state of the business process flow.
This is one of the ways where you can check for the maturity of the performance tester, the maturity of the tester, and the value of what is being delivered. If, when you look at the script, you find that the tester is not checking for expected results being returned in the content (vs just the status), you can be assured that the maturity of the tester is low and the value of the delivery also matches. You can likely find corresponding data points in the handling of data (dynamic and user provided), monitoring, analysis, etc...
As a tester, each step has an expected result. Check for it. This is true for manual testing. This is true for automated functional testing. This is true of performance testing. This is true independent of the tool(s) used.