The hormones secreted by hypothalamus and stored in the neurohypophysis are the Oxytocin and Vasopressin (or ADH)
(a) Oxytocin:
The main function of oxytocin is aiding in child birth or parturation by acting on the smooth muscles lining the uterus and bringing about the contraction of the uterus required for parturation. It also, brings about contraction of the smooth muscles in the body but to a negligible intensity. Oxytocin also acts as a milk letting down hormone by acting on the mammary glands after parturation by stimulating Lactation in these glands. Apart from this, it acts on the adenohypophysis to induce production of Luteotrophic hormone which intern causes milk secretion.
Vasopressin (or ADH):
Its primary or basic function is to increase the reabsorption of water in the kidney tubules (or more precisely the distal convoluted tubule) whenever the body faces a deficit in water. Since this exhibits antidiuretic properties its also called as the Antidiuretic hormone. Deficiency of this hormone causes unnecessary and excess.