With the win today, KXIP remained in contention for a play-off berth as they jumped to sixth spot with 10 points with three matches remaining.
KTK, on the other hand, were virtually knocked out of the tournament with 10 points from 12 matches. They have two matches remaining.
The KXIP opening stand yielded just 25 runs in 2.5 overs with Valthaty falling victim to R P Singh after making a promising start, hitting two sixes in consecutive balls in the third over.
Valthaty's middle stump was knocked off as the ball went through the gap between bat and pad. The KXIP opener, who faced 10 balls and hit a four and two sixes, failed once again after promising a lot early in the tournament.
Gilchrist, who was struggling in his 15-ball stay, departed with a soft dismissal as he holed out to Parthiv Patel and KXIP were 31 for two in the fifth over when he left.
In Image: Kings XI Punjab batsman and team captain Adam Gilchrist (L) run along with his teammate Shaun Marsh (R) between the wickets