This induced a current in the ring ( with B induced pointing down) This is similar to the case with two magnets, with north poles pointing at each other---Hence the 
(This; induced; a current; L:in the ring) (B; induced pointing down; ) (This; is; similar to the case with two magnets, with north poles pointing at each other---Hence the) (north poles; pointing Hence the; at each other)
This B This north poles
induced induced pointing down is pointing Hence the
a current L:in the ring
similar to the case with two magnets, with north poles pointing at each other---Hence the
at each other