Bannan and Wallace were both new arrivals at Wednesday over the summer, but they have quickly adapted to life at Hillsborough.
The pair have gone straight into the Owls' starting line-up, and have played prominent roles in Carvalhal's team as they have started to climb the table.
And the pair have recently gone on record with the Sheffield Star stating how much they are enjoying training, much to delight of their Portuguese manager.
"What makes me most happy, more than anything, is when I see, for instance, Barry Bannan and Ross Wallace saying in the press that they are enjoying training," he said. "It means experienced players are enjoying improving with you."
Wednesday actually started the season slowly, but they have found form of late and have won their last four matches in all competitions.
The Yorkshire outfit have attacked with pace and purpose, and their quality has shone through as they have beaten the likes of Newcastle United and Preston North End on their winning run.
Wednesday are now sitting in 10th place in the Championship table, and they return to action after the international break with a fixture against Hull City.