Knowledge of variability in wheat genotypes is important for proposing crosses intended for development of heterotic combinations with improved stability. The present study consists of 120 wheat genotypes comprised of landraces, genetic stocks, released varieties, and improved genotypes. For the research experiment was conducted field in two rabi seasons (2019–2020 and 2020–2021) at ICAR-IIWBR, Karnal and a total of 120 genotypes were assessed using a randomized block approach for four quality (Zinc, iron, protein content and nitrogen) and six different physiological traits (Normalized difference vegetation index [NDVI]-1, NDVI-2, Soil Plant Analysis development [SPAD]-1, SPAD-2, Canopy Temperature [CT]-1, and CT-2) beside grain yield (GY). The occurrence of significant genetic variability amongst the several genotypes for nutritional and physiological characters indicates the inevitability for utilization of a considerable degree of genetic variation through the process of selection. The genotypic and phenotypic coefficients of variation (Genotypic coefficient of variation and Phenotypic coefficient of variation) exhibited their peak values for the trait GY, tailed by, grain zinc content, nitrogen (%), and SPAD-2. The high heritability values, in conjunction with substantial genetic advances, are indicative of the significance of GY, zinc, nitrogen, and protein content are key traits that hold potential for crop enhancement purposes. The total set of 120 genotypes clustered into 12 discrete sets on the basis of quality and physiological traits using the clustering technique and principal component analysis program available in the Statistical Package for Agricultural Research. Principal components axis 1 to principal component axis 4 unveiled about 71.31% of the total variability. Based on the findings of this study, it can be inferred that the released varieties showed greater performance in terms of grain output, although some landraces displayed higher values for the quality features. Hence, to acquire a comprehensive range of superior quality (Zn, PC, N, and Fe) cum high-yielding segregants, the selected genotypes from clusters “C” and “L” could function as better lines of parentage to organize breeding plans.