Wolves survived a late onslaught to claim a second npower Championship victory of the season and leapfrog opponents Leicester in the table after a 2-1 win.
The Foxes' defending from set-pieces was their downfall in the first period as Sylvan Ebanks-Blake and Richard Stearman both benefited from lackadaisical marking inside the first quarter of the match.
To their credit, the visitors probed diligently for a way back into the all-midlands affair and found one courtesy of Paul Konchesky's magnificent 70th minute long-range shot.
They should have claimed a point when substitute Martin Waghorn struck the post from inside the area with 11 minutes remaining.
Victory was only Wolves' second in 18 league encounters following relegation from the Barclays Premier League last season, while Leicester have now lost all three outings on their travels this term.
The hosts went ahead when Ebanks-Blake drifted into space at the far post to nod home Bakary Sako's free-kick.
In the 20th minute Foxes defender Liam Moore ceded possession to Kevin Doyle and the Republic of Ireland international cut in to fire goalwards from 20 yards, drawing a splendid save from Kasper Schmeichel at full stretch.
From the resulting corner Leicester's marking left much to be desired once more, with Ritchie de Laet the main culprit as Stearman smashed home via a touch from Schmeichel and the underside of the bar.
Nigel Pearson's men reduced the arrears in spectacular fashion.
There seemed to be little danger when Konchesky received the ball 30 yards from goal and lashed an unstoppable drive into the top corner and they came close to snatching a point when substitute Waghorn collected a pass from fellow sub Anthony Knockaert to drill against the foot of the post.