As the magnet approaches the loop, the magnetic flux through the loop in the upward direction is increasing. Lenz’s Law states that the induced current will flow in a direction to oppose this increase in flux. The induced magnetic field will be in a downward direction through the loop, and so the right-hand-grip rule indicates that the induced current must flow in a clockwise direction.
After the magnet has passed through the loop and moves away from it, the flux through the loop in the upward direction is decreasing, so the induced field acts in an upward direction to balance the decreasing flux. The induced current then flows in an anticlockwise direction to produce an induced field in the upward direction.