The hosts dominated proceedings, but top-scorer Michail Antonio was guilty of missing several clear chances, while goalkeeper Carl Ikeme kept the visitors alive with some good saves.
Sylvan Ebanks-Blake lacked support up front for Wolves, while Antonio and Jermaine Johnson gave the hosts hope of an unlikely winner to no avail, despite the West Midlands club not being able to muster a single shot on goal.
Ebanks Blake started brightly, shooting wide from outside the area before Jermaine Johnson fired over from distance for Wednesday.
Midway through the half Antonio crept in behind his marker as the ball was looped over by Jermaine Johnson, but Ikeme made a superb block with his feet to deny the Wednesday striker.
The hosts enjoyed an extended spell of pressure as a short corner saw Helan deliver to the far post, with Miguel Llera knocking it back but Reda Johnson's header was saved on the goalline by Ikeme.
Wednesday had the best chance of the half when Antonio found himself clear in the box, after good work from Jermain Johnson and Kieran Lee, but a snap shot went inches astray.
Chances were at a premium for both sides at the start of the season half, with Christophe Berra's slip allowing in Antonio, whose shot went woefully over.
The Owls found renewed spirit and Antonio was again at the heart of it, breaking quickly after a Wolves corner and laying off for Jeremy Helan whose measured shot only found the side-netting.
Helan's low ball would have been tucked in by Antonio at the near post but for Ikeme, and the hosts had a flurry of runs late on, with Helan battling to put the ball across the box without finding a Wednesday head.