Everton boss Roberto Martinez was aggrieved his side were not awarded a penalty in the first half when Baines appeared to be brought down by Gary Medel inside the box.
Referee Anthony Taylor waved play on despite Medel failing to get any touch on the ball and Mackay admits he felt it would have been a 'soft' penalty if Taylor had have pointed to the spot for the incident.
"I kind of felt Baines was on his way down, I thought he was looking for it," Mackay told Sky Sports. "He is someone that is a fantastic player, bursting into the box many times in this game.
"I can see why so many people covet him, but I felt at the time he was looking for it and I felt it would have been incredibly soft had it been given."
Mackay felt a draw was a fair result with clear-cut chances few and far between in the game.
"I think on the balance of play it was probably correct [the result]," added Mackay.
"We knew we were playing against a top team here today - a team that finish sixth in the Premier League last year - so it was a case we had to make sure it was not after the Lord Mayor's show last week and we had to be disciplined and approach the game in a way we knew that Everton could hurt us and make sure we combatted that."