The accused were produced before a magistrate and remanded in police custody till July 11.
The city police on Saturday arrested a 24-year-old man and his friend for allegedly killing his wife at Kalyan in Thane.
Sanam Karotia, 25, was shopping in the APMC vegetable market on Friday afternoon when her husband Sachin Karotia and Deepak Thakur, 20, reached there on a scooter and one of them allegedly stabbed her with a knife several times, the police said.
She was rushed to a nearby hospital where she died.
The two fled from the spot after the attack, but the police identified them from CCTV footage and arrested them on Saturday morning, said senior inspector Yashwant Chavan of Bazarpeth police station.
While the motive behind the attack was not yet clear, Sachin, who had a criminal background, and his wife quarreled often, the officer said.
The accused were produced before a magistrate and remanded in police custody till July 11. A case of murder has been registered and further probe is on.