Burnley striker Agyei scored five times in 21 appearances during his spell at the Banks’s Stadium, while Bury winger Ismail managed three goals in 24 games after both players joined the club at the end of August.
Manager Jon Whitney told the club’s official website: “We would like to thank both Zeli and Dan for their efforts.
“Dan’s attitude has been really good but we’ve just decided to go in a different direction and we couldn’t guarantee him minutes here.
“We would have absolutely loved to have kept Zeli but unfortunately he’s Bury’s player, so they have called him back.”
Rangers manager Steven Gerrard is weighing up a move for Liverpool full-back Jon Flanagan, reports claim.
Scottish champions Celtic are reportedly ready to offer full-back Calvin Miller a new deal before sending him out on loan.
Everton target Jack Wilshere has sparked a scramble for his signature after confirming he is leaving Arsenal this summer.
Tottenham's hopes of landing Wilfried Zaha have been hit by the news Crystal Palace have offered him a bumper new deal to stay.