At the top of the Explore screen lies the new story ring. On tapping it you can see the stories posted by people near your location based on the location stickers used in their stories. Another way you can search stories is that search for any location and stories based on those place will be shown. Currently the version 10.22 of instagram lets you only search stories but with up coming update, the hashtag search feature will arrive in next few weeks.
Just a below average guy trying to prove a point through writing and creating.