The armed men fired gunshots after robbing huge cash from the market women.
The robbers during the shootout killed one person while three others are in critical condition.
The armed thugs numbering about six who wore a mask on three motorbikes wielded guns and fired discriminately.
They made away with an unspecified amount of money.
Those who sustained gunshot wounds and the deceased were rushed to the Manhyia government hospital.
A team of police and military personnel who rushed to the scene after distress calls missed the robbers as they bolted before they arrived.