Stephen Elliott missed Wolves' best two chances as they failed to overcome struggling Leicester in an uninspiring match at the Walkers Stadium.
Elliott was unable to captialise after being put through by Seyi Olifinjana on the half-hour mark.
And he could not connect with Michael Kightly's ball across the face of goal moments before half-time.
Gary Megson's Leicester side were poor and were booed off by the frustrated home supporters at full-time.
Leicester manager Gary Megson:
"The fans get frustrated and we share that frustration, but there were things they can be pleased with.
"I think we are searching for a bit more confidence and belief. We are seriously lacking quality.
"In terms of the more human aspects of football - running and the work they put in - I thought we had them in spades."
Wolves manager Mick McCarthy:
"I always look at a point away as a good point. What's the point looking at it as anything else?
"We have had three really good performances and not really had the tally of points we should have had.
"How do they get in the team? Train brilliantly, play in the reserves brilliantly and be better than the players that are in the team."
Leicester: Fulop, N'Gotty, Kisnorbo, McAuley, Stearman, King, Chambers, Kishishev (Cort 73), Mattock, Fryatt (Campbell 83), Hume.
Subs Not Used: Henderson, Newton, Kenton.
Wolverhampton: Hennessey, Foley, Breen, Craddock, Gray, Kightly, Olofinjana, Henry, Stephen Ward (Neill Collins 90), Keogh, Elliott (Eastwood 66).
Subs Not Used: Stack, Bothroyd, Potter.
Ref: Tony Bates (Staffordshire).