City took the lead in the 12th minute at their new Church Road home in North Ferriby. Steve Melton and Clayton Donaldson worked the ball to Ryan France on the right wing, and his cross met the head of Daniel Webb at the near post.
Walsall came close to equalising when Marc Joseph gave the ball away to Kris Taylor, but he shot against the crossbar.
Both keepers were being made to work, and the second goal of the game was scored just before half time. Joseph hit the ball forwards to Donaldson who flicked on for Webb to make it 2-0.
The Saddlers were pushing to get back into the game in the second half, and Matty Fryatt pulled one back 20 minutes from time after rounding Fettis.
6 minutes later Fryatt struck again to level, scoring from the rebound of his own shot.
Webb, Donaldson and France all came close to restoring City's lead, but had to settle for a draw.
City line-up: Fettis; Byron, Strong, Joseph (O'Neill 57), Peat; France, Melton, Keates, Fry; Donaldson, Webb.
Un-used subs: Harvey, Russell, Tomlinson, Allanson.