The Lions set the tempo early on they could have gone in front in just the third minute. Striker Gary Alexander was sent scampering clear, but with just the goalkeeper Clayton Ince to beat, pulled his shot wide of the far post.
Alexander was proving to be the main threat to the visitors backline, once more bringing a smart save from Ince at his near post.
Walsall were having the odd foray forward and from one neat three-man sweeping move, Paul Hall fashioned out a chance which brought a comfortable save from Robert Douglas in the home goal.
Alexander next turned provider in setting up a chance as his deflected cross to the far post was met by Ryan Smith's volley, though once more Ince averted the danger.
Alexander's strike partner Neil Harris then had a chance for the home side as he raced onto the former's flick-on, before seeing Ince scramble the shot away.
All those chances spurned made it even more bewildering for the home faithful, as with five minutes of the half remaining a right-wing cross was nodded back into the danger area by Darren Wrack and it sat up perfectly for Daniel Fox to acrobatically strike the ball home.
Lions boss Willie Donachie made two changes at the break to try and spruce things up though a poor end product, notably through poor crosses into the box only further enraged the home fans.
However, with five minutes left, their first decent cross of the game did produce a goal as Andy Frampton side-footed home.
It seemed as if a point was theirs, but just two minutes later, the Saddlers stole the points as Edrissa Sonko centred for Deeney to apply a simple finish.