The deceased was identified as a teenager called Jagmot Singh and the injured, who are in critical condition, were identified as Manmit Singh and Param Singh.
They were taken to Lady Reading Hospital for medical treatment.
The assailants opened fire around 10am when the three of them were opening Manmit's cosmetic shop in Shabab Markat in the Hashtnagri area of Peshawar.
Members of the Sikh community gathered at the hospital to protest against the incident.
Just before noon, family members of the victims as well as other members of the Sikh community also blocked GT Road near FC Headquarters Balahisar Fort, placing Jagmot's body on the road to protest against the attack.
Tyres were also burned during the protest.
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