Malik scalped five wickets for 41 runs, while Rishi Dhawan and left-arm spinner Mukesh Sharma picked up two wickets apiece to wreck havoc on J&K batsmen.
Sent into bat, Ram Dayal top-scored for J&K with an unbeaten 35, while Owais Shah and wicket-keeper Obaid Haroon made 34 and 33 respectively.
At stumps, Himachal Pradesh were on 26 for no loss after eight overs in reply to J&K's first innings total of 175.
Captain Aakash Chopra was unbeaten on 16 while giving him company was Varun Sharma on eight.
Brief Scores:
Jammu and Kashmir: 175 all out in 79.5 overs (Ram Dayal 35 not out; Vikramjeet Malik 5/41).
Himachal Pradesh: 26 for no loss in eight overs.