An eyewitness said some gun wielding men shot sporadically on their way to bury the Dagomba chief of the area.
The mourners were on their way to the Kyekyewere cemetery when the incident occurred.
The two victims whose names have been given as Sister Abena, roasted corn seller and Aunty Adwoa, fried chicken vender ply their trade at the Tutuka market.
The two are currently receiving treatment at the AGA Hospital.
They are in a stable condition according to a nurse at the hospital.