What does the cryptic crossword clue "Market square (4)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Market square (4)

Times Sunday #5139 | 15 Across | 2024-11-24 flower

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Telegraph #30802 (2024-12-20)