When a magnet is moved towards a coil, it induces a current in the coil due to the change in magnetic flux, which causes the galvanometer needle to deflect. Similarly, when the magnet is moved away, the direction of the induced current changes, leading to the opposite deflection in the galvanometer. This results in oscillations as the magnet is pushed back and forth due to the alternating increase and decrease in the magnetic flux.
Thus, the galvanometer pointer oscillates.