An injury-time equaliser from Burnley striker Chris Wood has dented Wolves' hopes of finishing in the top-four.
The New Zealand international fired from the penalty spot on the 96th minute mark following a handball from Matt Doherty.
Raul Jimenez had put the visitors ahead with a sublime volley after 76 minutes, but it wasn't enough as Burnley fought to the end for a share of the spoils.
Nuno's side remain three points behind Manchester United and Leicester City, who have played a game less.
The Clarets also hurt their chances of qualifying for the Europa League after Arsenal beat Liverpool on Wednesday.
"It was great mentality from Woody," Burnley boss Sean Dyche said after the game.
"When he missed that chance, it shows you what a strong character he is to step up and take the penalty and finish it in the style he did."