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)

Telegraph #30802 | 5 Down | 2024-12-20 flower

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Also seen in

Times Sunday #5139 (2024-11-24)