I have a sharp pain in my foot arch during physical activity. what could be wrong?

Plantar fasciitis: Is the most commom cause. Also could be nerve impingement/entrapment.

Many possibilities: Your pain could due to trauma (fracture, sprain, arthritis, inflammation), infection, metabolic conditions (gout), poor circulation, musculoskeletal or biomechanical abnormality and different neurologic conditions (neuropathy). A thorough history and physical exam and possibly some laboratory and radiology exams are needed to determine the exact cause. The treatment varies depending on the cause.