In practice, setting ISO to 50 produces a noticeable step down in exposure. Here, the playback ISO is shown as 80.
I've been able to see that this model recognizes ISO from 10 to 51200, by looking in the detailed playback after making manual changes. This almost doubles the natural range on the camera.
If you want low ISO sensitivity because of bright light, try engaging the ND filter.
August,No ND filter on SX40. I should have checked it out first. Sorry!
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