The correct immediate action is to cover the wound with a sterile, moist dressing to protect the exposed intestines from contamination and prevent drying out, which can cause tissue damage. Do not attempt to push the intestines back in as this can cause further injury and increase the risk of infection. A moist dressing maintains tissue viability while minimizing bacterial invasion until surgical intervention can be performed. Avoid giving oral fluids in case surgery is urgently required. This approach reduces morbidity and improves patient outcomes in penetrating abdominal trauma.

Reference: Sabiston Textbook of Surgery, Courtney M. Townsend Jr., 21st Edition.