Shrivastava remained unbeaten on 105 when stumps were drawn and giving him company at the other end was Rameez Khan on 36.
Electing to bat, MP openers Shrivastava and Saxena gave their team a brilliant start as the duo built a solid platform with a stand of 152 runs for the first wicket.
Shrivastava's unbeaten innings came off 267 deliveries, which included six fours and a six. Saxena scored a 187-ball 70, studded with seven boundaries.
For Punjab, Sarabjit Ladda (2/62) and Pargat Singh (2/75) took two wickets each.
Brief scores:
Madhya Pradesh: 251 for five in 92 overs (Aditya Shrivastava batting 105, Jalaj S Saxena 70; Sarabjit Ladda 2/62, Pargat Singh 2/75) vs Punjab.