Leicester have now drawn all three games since Dave Bassett became their caretaker manager following the resignation of Micky Adams.
An own goal by John Halls after 20 minutes put them in front, but they were pegged back before half-time by Carl Asaba's first strike of the season for Stoke.
And it left Bassett bemoaning the fact that his side have now thrown away the lead in every match since he took temporary charge.
Stoke were desperate to get back on track after no wins in their previous five games.
All the early pressure came from Leicester who went close on ten minutes when James Scowcroft's overhead kick from a half cleared Scot Gemmill free-kick was palmed over the bar by keeper Ed de Goey.
The Foxes continued to lay siege on the visitors goal and it was no surprise when they went ahead on 20 minutes.
Chris Makin's right-wing cross fell to Danny Tiatto. His eight-yard angled drive appeared wide of the target until it took a wicked deflection off Halls before nestling into the back of the net.
Leicester continued to dominate but they were unable to exploit their advantage and against the run of play, Stoke were level after 36 minutes.
Marcus Hall crossed into the penalty area and Ade Akinbiyi flicked on for Asaba to thump the ball home from ten yards.
Moments after the goal, Martin Keown, injured in an earlier challenge, was replaced by Matt Elliott.
Leicester continued to dominate after the break and Dion Dublin might have done better with a Lilian Nalis cross which he headed straight at the keeper.
But Stoke went close on 55 minutes when Kevin Pressman was almost caught out by Darel Russell's long-range effort and then moments later Asaba blazed high and wide after the Leicester keeper had failed to gather Akinbiyi's header.
It was the closest either side came to scoring after the break when torrential rain made the going heavy and drained Leicester of their first-half momentum.