Former England and Manchester City boss Eriksson made the surprise decision to join unfashionable Leicester after being out of work since leaving his post as Ivory Coast coach following the World Cup, in a move which is sure to increase interest in the English second tier in his home country Sweden.
The Swede saw his new side make a dream start when Andy King drove a low shot past Matt Duke’s weak attempted save after just three minutes at the Walkers Stadium.
But Robert Koren equalised in the 52nd minute with a long-range effort that Leicester goalkeeper Chris Weale could only palm into the net.
While Eriksson was left to rue that mistake, which left his side stuck in the relegation zone of English football’s second tier, Hull boss Nigel Pearson was delighted to avoid defeat on his return to the team he managed last season.
At the top of the table, QPR saw their lead over second placed Cardiff cut to four points.
Neil Warnock’s side, unbeaten in 11 matches, were held to a 0-0 draw by third placed Norwich at Loftus Road and could even have lost as Wes Hoolahan missed a first-half penalty after Clint Hill brought down Grant Holt.
Cardiff increased the pressure on QPR with a second-half comeback that came courtesy of a Peter Whittingham double in a 3-2 win over Bristol City.
Keith Millen’s side had stormed into a 2-0 lead thank to goals from Steve Caulker and Jon Stead before Jay Bothroyd pulled one back for the home side.
Whittingham then bagged his first two goals of the season to cement the Bluebirds’ position in second.
Scott Sinclair’s ninth goal in eight games gave Brendan Rogers a happy return to the Madejski stadium as the Swansea boss celebrated a 1-0 win over former club Reading.
Elsewhere, Millwall claimed a 1-0 win over south London rivals Crystal Palace thanks to Theo Robinson’s 53rd minute strike at Selhurst Park.
Palace, who had defender Claude Davis sent off in the closing stages, are second bottom after their seventh defeat in 11 league matches.
Coventry ran out 2-1 winners against high-flying Ipswich, while Sheffield United’s Mark Yeates scored deep into injury time to rescue a 3-3 draw against Burnley.
Billy Sharp scored twice against his former club as Doncaster came from behind to beat Scunthorpe 3-1 at Glanford Park.
Barnsley ended their run of four matches without a win by beating Nottingham Forest 3-1 at Oakwell.
Dean Moxey, Alberto Bueno and Robbie Savage were all on target as Derby defeated 10-man Preston 3-0 at Pride Park.