Walsall remain unbeaten at home after an uninspiring draw.
Wednesday struck first in the first half when a mix-up in the home defence ended with Glenn Whelan thumping the ball into an empty net.
But Walsall equalised before half-time when substitute Neil Emblen headed back across goal for Michael Standing to score his first goal for the club.
After the break, Wednesday substitute Guylain Nsungu headed wide, while Darren Wrack's effort was blocked.
Walsall: Paston, Bewers, Dakinah (Emblen 35), Bennett,
Aranalde, Osborn (Merson 66), Kinsella, Wrack, Standing,
Williams (Fryatt 73), Leitao.
Subs Not Used: McKinney, Daryl Taylor.
Goals: Standing 39.
Sheff Wed: Lucas, Bullen, Collins, Wood, McGovern, Whelan,
Proudlock (Brunt 69), Marsden, Smith, Shaw (Ndumbu-Nsungu 57),
Subs Not Used: Tidman, Carr, Olsen.
Goals: Whelan 16.
Ref: M Thorpe (Suffolk).