Chasing 135, the Knight Riders were looking set to achieve the target but they were restricted to 132-7 in 20 overs by the Kings XI due to their accurate bowling and alert fielding.
Debabrata Das top scored with an unbeaten 35 from 23 balls with three fours and a six. Other notable contributors were Maninder Bisla (27), captain Gautam Gambhir (22) and Manoj Tiwary (20).
For Punjab, leg-spinner Pyush Chawla captured three wickets for 18 runs and left-arm spinner Bhargav Bhatt claimed two for 24.
Earlier, Punjab made 134 for nine in the allotted 20 overs after being sent into bat by Kolkata.
Main scorers were Mandeep Singh (38) and Australia’s David Hussey (32).
West Indian off-break bowler Sunil Narine, displaying an extra-ordinary performance, grabbed five wickets for 19 runs and later was adjudged the main-of-the-match.
Geo Super, the first sports tv channel of Pakistan, televised this amtch live from Kolkata.