Birmingham and Wolves were locked in a tense struggle at St Andrew's to produce a result which did little to enhance the fortunes of either club.
Birmingham's goalscoring duo, Mikael Forssell and Clinton Morrison, joined forces to score two opportunist goals after Scottish international Colin Cameron had put Wolves ahead.
Any hopes of Birmingham achieving their first win in five games disappeared when the ever-improving Carl Cart notched a well-merited 75th minute equaliser.
The draw means that Birmingham's ambition of putting themselves back into contention to play in Europe slipped away, while Wolves appear to be heading for First Division football next season.
Wolves gave themselves an early boost with a smartly taken goal after only six minutes when Birmingham made what has become a customary slow start.
Henri Camera put a short pass into the path of Cameron who arrowed a 25 yard drive past Maik Taylor.
It took Birmingham a long time to recover from this setback and there was some pleasing play from Wolves but they were unable to increase their lead.
They had one let-off when a pass from Stan Lazaridis was picked up by Stephen Clemence, but the former Spurs player contrived to shoot wide.
But the warning signs to Wolves were plainly evident and in the 34th minute Birmingham were on level terms.
Skipper Paul Ince flicked on a Matt Upson free-kick to Clinton Morrison who nudged the ball into the path of Mikael Forssell.
The on-loan striker from Chelsea is lethal inside the six-yard box as he demonstrated with a cross-shot past Paul Jones for his 19th goal of the season.
Wolves were deflated by this set-back and three minutes before the break they found themselves trailing as a result of a quickly executed goal.
A forward pass from Kenny Cunningham, who had a harrowing time for the first 20 minutes of the game against Cort, found Forssell. He turned quickly just inside his own half to send a pass down the inside channel.
Morrison latched on to the pass to slip a low shot past the advancing Jones to score only his fourth Premiership goal of the season.
Just before the break Robbie Savage hit the post with a free-kick.
It proved to be a let-off for Wolves as any hopes Birmingham may have had of enjoying an easy second half disappeared in the 75th minute.
After a considerable delay taking a free-kick, caused by Damien Johnson and substitute Ioan Ganea being admonished by the referee, Wolves snatched a dramatic equaliser.
Mark Kennedy's powerful drive could not be held by Taylor and from the rebound Cort nudged the ball into the net to keep alive some very slender survival hopes.