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Pharmas, energy, information technology and industrials are still good defensive plays, Grant Bowers, portfolio manager at Franklin Templeton Investments, told "Worldwide Exchange."
Biotechnology company Celgene [CELG
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] , is a good health-care stock to buy as their expansion looks promising, Bower said.
Information technology giant, Qualcomm [QCOM
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] is another of Grant's stock picks as it is the dominant tech company on patent portfolios for wireless technology and is benefiting from the growth of wireless globally.
Other stocks Bowers likes are FMC Technologies [FMC
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] , a US company which creates technology and equipment for agriculture, oilfield service, food processing and air transportation industries; UK infrared technology company, FLIR Systems; and biopharmaceutical company, Gilead Sciences [GILD
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Investors have to look to own the best companies in the market, ones that are high quality, high growth, to get them through the downturn, Bowers told CNBC.
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