Missing Hive Execution Jar Hadoop
Download the jar manually from this link..click here
put the jar into /usr/local/Cellar/hive/apache-hive-1.1.1-bin/lib folder.
Check if this solves your problem....
Thanks finally my friend solved the problem and now hive is running. Actually in Mac you have to use .profile file to set the path for hive installation instead of .bash_profile or .bashrc files.