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Power Play: Sectors to avoid in this market

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

The first day of fall does not mean there will be a change in leadership in the equity market.

Gina Martin Adams, institutional equity strategist at Wells Fargo Securities, tells CNBC's "Power Lunch" on Wednesday market performance this year has been led by momentum and growth companies and she sees little reason to change that view.

"While there has been a shift away from these cohorts over the last few weeks, our work suggests this shift is unlikely to endure," Adams said.

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She is still overweight technology, health care and consumer discretionary and is underweight financials, telecom and materials.

On the global front, Hayes Miller, head of global multi-asset North America at Baring Asset Management, still has a preference for consumer-driven stocks over investment-led names.

It is "still too early to buy energy or materials, but there will be a buying opportunity in the next year. In IT and industrials one has to be selective. Health care may have run out of steam with some political debates about cost control," Miller said.

Technology is higher today, while health care, consumer discretionary, financials, telecom, materials, industrials, energy and IT are lower.