In reply to Jharkhand's first innings total of 401 all out, Punjab were 150 for one at stumps at Keenan Stadium.
Punjab started impressively as Jiwanjyot and his opening partner Ravinder Singh scored 75 before the latter misread a rising delivery off Jharkhand skipper and left-arm spinner Shahbaz Nadeem and edged a simple catch at first slip for 37.
Jiwanjyot was batting on 77 which he made from 181 balls and with the help of 12 fours and Tanwar Kohli, who was on 26, was giving him company at close.
The 22-year-old Jiwanjyot, in his first year of first class cricket, has scored four centuries and one half century in seven matches including 213 on debut against Hyderabad.
Earlier, resuming at 310 for six, Jharkhand received an early setback when Ishank Jaggi fell prey to spinner Sarabjit Singh after adding only six runs to his overnight score of 126.
Jaggi paired a 58-run seventh wicket partnership with Sunny Gupta, who remained not out on 40.
Jharkhand skipper Shahbaz Nadeem, who stepped in following Jaggi's dismissal, chipped in with a quickfire 31 off 48 deliveries before Sarabjit struck again to have him caught at short leg.
For the visitors, pacer Siddharth Kaul and spinner Sarabjit Singh bagged four wickets apiece while skipper Harbhajan Singh had to content with only one wicket.
