Canadian investors wondering where to invest in the market right now might be excited about the bull run that the S&P/TSX Composite Index has had in the last few weeks of trading. The uptick in the Canadian benchmark index shows the economy might be moving in a positive direction.
Smart investors buy when others sell and sell when others are buying, but that’s not a hard rule to follow. Times of improvement in the market can also signal buying opportunities for those who can find them. I will discuss three blue-chip TSX stocks that might warrant a place in your self-directed portfolio today.
Enbridge
Enbridge (TSX:ENB) is a staple holding in many stock market investing portfolios. The $142.79 billion market-cap integrated energy company is headquartered in Calgary. It owns an extensive network of midstream assets, transporting around a fifth of the hydrocarbons produced and consumed in North America, playing a vital role in the regional economy. Enbridge’s acquisitions last year also made it one of the biggest utility providers in the region. Besides the traditional energy and utilities segments, Enbridge has a growing renewable energy portfolio.
Enbridge is also a dividend stock, paying $0.97 per share to its investors, translating to a 5.93% dividend yield. As of this writing, Enbridge stock trades for $65.46 per share. Well-positioned for solid long-term returns, it can be an excellent holding to consider at current levels.
Telus
Telus (TSX:T) is another TSX stock that can be found in many investor portfolios. The $27.29 billion market-cap TSX telecom stock is one of the Big Three Canadian Telcos. Boasting around a third of the market share in a largely consolidated industry, Telus is well-positioned as a mainstay in the industry. The communications technology company has also diversified into several different sectors of the economy, including the medical and agriculture fields.
Primarily a telco, the company continues performing well in that regard. It grew its subscriber base by 5% in the 12 months before September 2025 alone. Being a reliable dividend-paying stock, the telco pays investors $0.4184 per share per quarter, translating to a 9.49% dividend yield. While that might usually be an alarmingly high dividend yield, Telus is the kind of company that can back up those high-yielding dividends. Its recent announcement to forego a dividend hike to sustain its payouts shows that the company wants to ensure continuity for its shareholders.
Foolish takeaway
Buying and holding shares of reliable, blue-chip stocks is not an entirely risk-free approach to putting your money to work in the stock market. Even the most defensive stocks are prone to downturns in the right conditions. However, well-capitalized stocks with a solid track record of delivering long-term returns to investors are considered safer investments than most.
Considering the importance of diversification, I would not advise allocating $50,000 to just these two stocks alone. However, I would keep Enbridge stock and Telus stock as core holdings for a self-directed portfolio of dividend stocks that I would build with such an amount.
