A study was conducted to work out the phenotypic and genotypic variance, heritability, genetic advance, correlation coefficients and path analysis for yield and yield contributing traits. Harvest index and biological yield per meter had direct positive effect both at genotypic and phenotypic level across the entire environment. Higher heritability was observed for plant height and its components. However, the heritability was in general found to lower under moisture stress conditions. Plant height, peduncle length and seedling dry weight showed positive correlation with grain yield at genotypic level. Hence these traits should be given emphasis while selecting high yielding wheat genotypes under moisture stress conditions.