Magnetic suspension effect has been studied by using superconductor of BiPbSrCaCuO ceramics containing Ag$_2$O. Magnetic flux measurements of a toroidal magnet revealed a concave shaped field distribution with a null field along the axis of the torus at the point where the field reversed. The suspension effect was observed only for the Ag$_2$O doped and field cooled sample which is attributed to the enhanced flux pinning due to the field cooled condition. It has been cleared that Ag$_2$O acts as pinning center which plays an important role to the magnetic suspension effect. Magnetic repulsive force which affects a superconductor located in magnetic flux from toroidal magnet has been investigated. It has been concluded that the magnetic suspension effect arises from the interaction between the pinning effect and the diamagnetic effect.