Raith passed up the chance to put a five point gap between themselves and fifth place Queen of the South as they were stung by bottom of the table Wasps.
It was a frustrating night at Stark’s, played out in front of just over 1000 paying punters, with Jack Ross’s well drilled visitors proving a tough nut to crack before grabbing a shock late penalty to win the game.
The home side started by pressing high in the Alloa half and created a decent half chance to open the scoring after a couple of minutes.
Louis Longridge, making his debut, showed some neat touches and linked well with James Craigen.
Craigen managed to get a cross in which evaded Ross Callachan.
But there was nothing half about the chance presented to Mitch Megginson on the quarter of an hour mark.
Longridge was again at the heart of things, sending a pinpoint cross into the box which his team mate somehow headed wide from six yards.
Raith were forced to be patient as their visitors defended deep and in numbers.
Alloa deployed Issac Layne as a solitary striker but failed to get any sort of service to him.
Their route one passes were dealt with with minimal fuss by the Raith backline.
Ray McKinnon’s side stayed on the front foot and at the start of the second half really camped out in the Alloa box.
A series of corners came to nothing with the set-piece takers having difficulty with their deliveries in the heavily sanded corners.
The second 45 was much more even than a first which Raith dominated.
Michael Duffy twice went close to handing Ross’s men the lead within the space of a couple of minutes.
Raith introduced Mark Stewart from the bench to replace Megginson and the striker added an extra impetus up top.
He was straight into the thick of it and saw a decent drive from a tight angle saved.
The rebound fell to Longridge but he couldn’t convert and then Craigen hit the side netting.
With minutes remaining Alloa grabbed a lead against the run of play when Iain Davidson brought down the impressive Iain Flannigan inside the box.
Flannigan himself took the kick and sent Cuthbert the wrong way.