What does sharp pain in leg and tingly sensation in arch of foot mean?

Plantar fasciitis?: With the limited info given, i can only guess plantar fasciitis, inflammation of the fascia/arch ligaments. This can be quite painful and persists for months without proper treatment. Stress fracture is also a possibility, or metatarsal syndrome (carpal tunnel equivalent in your food/ankle). If it is bothersome, consult doc, podiastrist for proper eval and treatment... Good luck.

Nerve: What you are describing sounds like an injury to a nerve or compression of a nerve. If it persists it needs to be examined to find the underlying cause.